Starbucks CEO discusses layoffs and DEI issues

Starbucks CEO Brian Niccol addressed shareholders this week, emphasizing a return to simpler operations and customer feedback. He announced layoffs of 1,100 corporate employees and changes to the menu, including separating “to-go” and “for here” services. The company faces criticism over its diversity policies and a lawsuit from Missouri claiming discriminatory hiring practices. A shareholder proposal to review Starbucks' charitable contributions was overwhelmingly rejected during the meeting. Unionized baristas staged walkouts demanding a finalized contract, while Starbucks continues negotiations with the union. Niccol also defended his use of a corporate jet for business travel, stating it is necessary for his role.