It’s fewer bonus bucks for Starbucks employees this holiday season. Workers for the coffee giant will see their end of year bonuses slashed by 40%. Corporate leaders say it’s because the company has had its worst fiscal year since the pandemic.
Grab a cup of joe and read on.
Starbucks slashes holiday bonuses 40% as coffee chain suffers worst year since pandemic: report https://t.co/7BVQFMpici pic.twitter.com/Ji0wGD6Jd4
— New York Post (@nypost) November 27, 2024
There’s several reasons for the drop. One is competition. Starbucks competes head-to-head with both Dunkin’ Donuts and McDonald’s in most markets. That’s not counting dozens of smaller coffee drive-thrus.
Because they have competition now that makes cheaper and better coffee
— I’m Jim Acosta’s Love Child (@JimAcostaJr) November 27, 2024
Wait....Overcharging for burnt, over-roasted coffee is finally losing money? Crazy!
— Mark (@splshdown) November 27, 2024
It’s the economy, stupid! Bidenomics has made it impossible for many coffee enthusiasts to afford a daily fix. Inflation plus increased prices equals kicking the high-priced coffee cup to the curb. Coffee fans are either brewing at home or choosing cheaper alternatives.
Two grande lattes and two breakfast sandwiches shouldn’t be $30+.
— DJ (@djnj0919) November 27, 2024
Maybe they should lower their prices and put more love into their food and coffee.
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Who could’ve predicted that charging $6 for a coffee would eventually be a problem…customers continue struggling with inflation & need to make practical choices about how they spend their money…one easy choice is not paying for overpriced coffee
— TA (@TA1126924) November 27, 2024
translation: Bidenomics
— TazTears💦 (@TazTears) November 27, 2024
My gosh, freaken drink is like $9 every time….who can afford …
— Beautiful Places (@FunRun50) November 27, 2024
Unions have driven prices higher, plus killed the incentives for good customer service.
That's what happens when you unionize
— Hi, I'm KellyJo 🙋🏽♀️🇺🇸 (@BiologicalWoma2) November 27, 2024
I guess going union to serve expensive watered down coffee, didn't work as planned
— Mike Christensen (@Mik3Christensen) November 27, 2024
Service industry unions generally equal leftist employees and all the political causes and disruptions that come with them. Customers want coffee, not woke and DEI nonsense.
Remember when they wanted baristas to lecture customers on race relations?
— Galloway Farms (@Galloway_Farm) November 27, 2024
It lasted about a week 😂
Maybe you should go back to focusing on serving coffee instead of social justice. Just a suggestion.
— InTheCape (@in_cape) November 27, 2024
The Palestine people are going to take credit for this 🤦♂️
— Mark Bisson (@bisson_mark) November 27, 2024
Probably wasn’t such a good idea to let homeless people set up camp in their bathrooms.
— Scott Young 🐊 (@Scott_C_Young) November 27, 2024
Well your staff is embarrassing too
— Jan (@jinboston02124) November 27, 2024
Starbucks has painted itself into a corner of sorts. They’re stuck with their unionized workforce which will fight against most real measures to change and increase profitability. Prices will remain high and those who have moved on will find little reason to return. Continuing cuts to bonuses is more likely than the sea change needed to make Starbucks the coffee destination it once was.
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