Starbucks eliminated approximately 180 corporate positions across its London and Hong Kong offices.
The layoffs include 120 roles at the London headquarters for Europe, Middle East, and Africa operations. Another 60 positions were cut in Hong Kong, representing 20% of the staff overseeing the Asia-Pacific region.
This restructuring aims to reduce management layers and grant more autonomy to international licensees. The company plans to double its international store count primarily through these licensed partners.
The move follows a May announcement regarding a review of international corporate teams. Starbucks has reported international sales growth for three consecutive quarters, and its stock is up approximately 20% year-to-date.