Starbucks Corp. has seen a significant 24% drop in stock prices over three months, reflecting deep issues with its turnaround led by new CEO Brian Niccol. Hired last August, Niccol aimed to enhance customer and barista experiences but faced backlash after announcing layoffs and service cuts. These actions alienated some employees and negatively impacted morale. Meanwhile, recent earnings revealed a decline in comparable store sales by 1%, adding pressure to Niccol's optimistic outlook that seems disconnected from the current reality at Starbucks.
Starbucks shares have collapsed 24% in three months under CEO Brian Niccol's turnaround strategy, demonstrating significant challenges in restoring the company amid worker discontent.
New CEO Brian Niccol's efforts to revitalize Starbucks have faced backlash, including layoffs and menu reductions, culminating in declining sales that highlight the struggle to reconnect with employees.
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