Starbucks to cut 5% of its corporate workforce, Dow Jones reports
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Starbucks is planning to cut approximately 5 percent of its global corporate workforce, according to a memo sent by CEO Kevin Johnson.
In the memo obtained by CNBC, Johnson said the lay offs would impact 350 employees in marketing, creative, product, technology and store development.
The news comes after Starbucks said in September that it would cut corporate staff as it shuffles its organizational structure.
The Wall Street Journal first reported the layoffs.
This is breaking news. Please check back for updates.
— CNBC's Kate Rogers contributed reporting.
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