Posted on 07/11/2016 7:15:08 AM PDT by Prov1322
Starbucks Corp. SBUX, +0.04% said Monday it will give raises of at least 5% to all partners and store managers in U.S. company stores, starting Oct. 3, in response to what Chief Executive Howard Schultz called a "tragic week of violence" in the U.S. In a letter to employees posted on Starbucks' website, Schultz said it will double the "bean stock" award for employees who have reached two years of continuous service with the company. Coupled with the pay rise, the new bean stock program will result in total compensation for employees increasing between 5% to 15%. The coffee seller is also revising its benefits program to allow employees to shop for personalized health care plans. Schultz said the company will also attempt to be more accommodative with scheduling and its dress code. The stock, which rose 0.3% in morning trade, has lost 5.7% year to date, while the S&P 500 has gained 4.5%.
(Excerpt) Read more at marketwatch.com ...
Starbucks had already planned the raises weeks ago.
it was in an article about a week or so ago or so, planned employee raise and coffee price raise and somehow the computer started the coffee raise early. there was article about them giving customers credit.
So this was already in the works, just reworded to suit the moment in media.
Years ago there was a woman who would pet and cuddle her dog when it pooped on her bed... she was under the impression the dog was acting out because it wasn't getting enough attention.
The dog was under the impression it was being rewarded for 'good behavior'... with predictable results...
Good catch on the 'incentive' thing...
exactly, this is total b.s. publicity leeching upon the terrible news..... just a way for Starbucks to gain PR from shootings unrelated to Starbucks. DIsgusting.
There was a story recently about how the CEO of Starbucks likes to make headlines about how generous he pays people (in context of raising minimum wage) but with each raise he cuts back on hours and employees are taking home less while service tanks.
Starbucks is probably also using this to push its competitors into giving THEIR employees raises as well.
Since few if any of Starbucks competitors have the economies of scale to be able to absorb such raises, this will undermine their ability to do business (and therefore compete against Starbucks)
Remember Starbucks had a short lived policy, in which they were going to discuss racism and racial issues??
I think this is definitely a “HUH” moment.
And makes you wonder, how the heck are these people running a successful major business, if this is how they think.
They’re going to end up exactly like they were depicted in “Idiocracy.”
Hope these leftist creeps from Seattle spend themselves into poverty and bankruptcy.
I’ve been using Chemex since the mid-80s and still do. I grind frsh beans to Turkish (powder), and it beats anything, anywhere.
Does this mean that there will be no more violence after this week?
Starbucks workers should have received a raise sooner and all this violence wouldn’t have occurred.
So this was already in the works, just reworded to suit the moment in media.
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In other words, trying to squeeze some corporate PR out of a national tragedy.
That’s pretty sick.
“Does this mean that there will be no more violence after this week?”
This means that any violence after this week will be due to Starbucks refusing to raise its wages enough. From here out, every dead person is the fault of Starbuck’s management! < / sarcasm >
Message to Starbucks employees: Want a raise? Start a riot.
They are cancelling the employee health care plans because they are costing the company a fortune and cannot be sustained. They will give the employees a cash supplement to purchase insurance which will be well short of what any decent coverage will cost.
As for the raise, that is simply because the amount of money they are saving by canceling employer-funded Insurance allows them to give these raises and still save a substantial amount of money.
It will give me great pleasure to vote for Trump, and really screw up the Leftist’s next four years.
That’s how I see it.
And it goes to show one more time, that the left has no moral compass whatsoever.
Thanks, where can I find this info?
Lol, do you think this would be made public? Mi have two nephewscwho work in finance for major corp and they have done just this. It has been going on for yrs and will continue.
If you actually thng this company is going to cut into their bottom line to aide employees you are completely nuts. Any move of this type will only be made because it isca boost to the bottom line.
I believe coffee is going up as much as 30 cents per drink. Some stores accidental rolled out the price increases last week . Starbucks apologized and rolled the price back but only until the official launch date with I believe is coming up this or next week. What a coincidence, price increases to keep the peons in line whom were getting pissed with reduced hours and store headcount.
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