Starbucks to shift to four-day work from office from three, says CEO
The policy would include common days of work from Monday to Thursday, applicable to Seattle and Toronto support centers as well as regional officers in North America, Niccol said in a message shared, opens new tab with partners on the company's website on Monday.
Niccol, who will complete a year in the job in less than two months, has been steering Starbucks back to its coffeehouse roots by focusing on enhancing in-store experience and reducing dependence on mobile and to-go orders.
"Being in person also helps us build and strengthen our culture. As we work to turn the business around, all these things matter more than ever," Niccol said.
"We want leaders and people managers to be physically present with their teams," he added.
The four-day office work policy is expected to take effect from September 29.
In February, the coffee chain operator asked the remotely working vice president level leadership to begin relocating to Seattle or Toronto. It is now extending this requirement to all support center people leaders, who are expected to move within 12 months.
Starbucks has been accelerating the roll out of new staffing and service model across company-owned North American stores to revive sales growth after struggling in the face of rising inflation and economic uncertainty.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
an hour ago
- The Independent
Former Obama adviser quips that Trump is ‘combing Fox News' for new Labor Stats chief after firing
After Donald Trump's pledge to nominate a new Bureau of Labor Statistics commissioner in the next few days, former Obama adviser David Axelrod joked that the president is 'probably combing Fox News' for a replacement. Following a weak jobs report Friday that found not only did the U.S. economy add only 73,000 jobs in July but that the 258,000 fewer jobs were created in the previous two months, the president announced that he had axed the chief labor statistician Erika McEntarfer. 'I believe the numbers were phony, just like they were before the election, and there were other times,' the president told reporters over the weekend when pressed on his decision. Since then, Trump has repeatedly and baselessly claimed that the jobs report 'was RIGGED' and that McEntarfer – who was appointed by his predecessor Joe Biden – had manipulated the numbers to make him 'look bad.' While the president has faced some criticism from Republican lawmakers for firing McEntarfer, who was overwhelmingly confirmed by the Senate last year, White House officials were tasked over the weekend with justifying and defending Trump's rash move. Their efforts were met with mockery and ridicule from cable news outlets and editorial boards. The Wall Street Journal labeled the president's economic adviser the 'bureau of labor denial' while Morning Joe host Joe Scarborough claimed that Trump's aides had to 'put on their Baghdad Bob hat this weekend because there was no justification for' the firing. Axelrod, who now works as a CNN senior political commentator, took a decidedly snarky tone over the news that Trump would soon offer up a replacement for McEntarfer. Sharing a New York Times article that noted the president had told reporters he'd announce a new BLS commissioner 'over the next three or four days,' Axelrod tweeted Sunday: 'He's probably combing Fox News right now for a qualified replacement.' Of course, Axelrod – who served as a senior advisor to former President Barack Obama and helped run his two presidential campaigns – was referencing Trump's penchant for using the conservative cable giant to staff up his administration. has seen roughly two dozen former Fox News employees take on roles in the administration – with several of them filling Cabinet-level jobs. Axelrod wasn't the only one who jokingly suggested that the president would look for a loyalist to lead the Bureau. George Conway, the former GOP lawyer who has become a leading anti-Trump critic in recent years, created a fake White House press release announcing that the president had named former Trump Organization CFO Allen Weisselberg to be the next Labor Stats chief. Weisselberg pleaded guilty to charges of grand larceny, criminal tax fraud and falsifying business records in 2022. He also later pleaded guilty to perjury charges for lying under oath in a New York civil trial. In his newsletter, The Atlantic contributing writer Derek Thompson argued that Trump was waging a war against reality, adding that weak job growth wasn't 'the only inconvenient statistic that the Trump administration has tried to suppress in its first seven months.' As Thompson pointed out, the administration has also dismissed scientists in charge of vaccine evaluations at the CDC and gotten rid of experts who put together national climate assessments so insurance companies can gauge risk, not to mention the firing of McEntarfer. In a wild post on Truth Social Monday morning, Trump claimed that he was the victim of 'FAKE' numbers that were meant to hide the economic success of his tariff policies. 'Last weeks Job's Report was RIGGED, just like the numbers prior to the Presidential Election were Rigged. That's why, in both cases, there was massive, record setting revisions, in favor of the Radical Left Democrats,' he wrote. 'Those big adjustments were made to cover up, and level out, the FAKE political numbers that were CONCOCTED in order to make a great Republican Success look less stellar!!! I will pick an exceptional replacement. Thank you for your attention to this matter. MAGA!'
Reuters
an hour ago
- Reuters
Firefly Aerospace lifts IPO price range, targets $6 billion valuation amid space investment boom
Aug 4 (Reuters) - Northrop Grumman-backed Firefly Aerospace raised the proposed price range for its U.S. initial public offering on Monday and is now targeting a valuation of up to $6.04 billion in its U.S. listing, underscoring investor interest in space-related ventures. The Texas-based space startup aims to raise $696.6 million by selling 16.2 million shares priced between $41 and $43 each. This compares with its prior proposed range of $35 to $39 per share. Executives appear to be regaining their appetite for IPOs, buoyed by strong market debuts from tech-focused companies like design software firm Figma (FIG.N), opens new tab and stablecoin-issuer Circle . Despite concerns over a potential labor market slowdown, resilient consumer spending and lower-than-expected tariffs have pushed equity markets to record highs. At the top end of its revised range, Firefly's valuation would represent a significant jump from its Series D funding round in November, which valued it at more than $2 billion. U.S. President Donald Trump has renewed federal focus on space capabilities, which have largely been outsourced to private-sector firms. Major defense initiatives - including the $175 billion Golden Dome space-based defense program - have further spurred private investment into the sector. Additionally, the recent tensions between Trump and SpaceX CEO Elon Musk have prompted a significant shift in the administration's relationship with Musk's company, which is a leading launch provider for the U.S. military and NASA. Firefly is scheduled to price the deal on Wednesday and is expected to begin trading on the Nasdaq under the ticker symbol "FLY" the following day. Goldman Sachs, J.P. Morgan, Jefferies and Wells Fargo Securities are the lead underwriters for the IPO.
Reuters
an hour ago
- Reuters
IDEXX raises 2025 forecasts on strong pet diagnostics demand, shares jump
Aug 4 (Reuters) - IDEXX Laboratories (IDXX.O), opens new tab raised its full-year profit and revenue forecasts on Monday after reporting better-than-expected second-quarter results, sending its shares nearly 28% higher in morning trading. The company said it saw rapid adoption of its newly launched device, inVue Dx, which provides blood and ear canal test results in 10 minutes. The company said nearly 2,400 units were installed at clinics in the quarter, prompting IDEXX to raise its full-year placement forecast by 1,000 units to 5,500. "Demand has exceeded expectations," CEO Jay Mazelsky said during a post-earnings conference call. The launch "appears to be pacing well" through the first half of 2025, with the company raising forecast to account for higher placements this year, said Leerink Partners analyst Daniel Clark. IDEXX offers diagnostic equipment, such as blood and urine analyzers, and imaging systems to help vets diagnose and treat animals. It also provides veterinary software and run reference laboratories for more complex tests. The company now expects annual profit between $12.40 and $12.76 per share, compared with its previous range of $11.93 to $12.43. IDEXX also raised its annual sales forecast to between $4.21 billion and $4.28 billion from $4.10 billion and $4.21 billion. Analysts had expected revenues of $4.15 billion and an adjusted profit of $12.19 per share for the year, according to data compiled by LSEG. Sales at IDEXX's companion animal group unit, its largest unit which offers diagnostics for pets and IT services to veterinary clinics, rose about 11% to $1.02 billion in the second quarter ended June 30. On an adjusted basis, IDEXX reported a profit of $3.63 per share for the quarter, comfortably beating analysts' expectations of $3.30. Total revenue for the quarter climbed to $1.11 billion, surpassing analysts' estimates of $1.07 billion.
