



Starbucks, known for its coffee and cafes around the world, has just announced big plans for its future. Among the many changes, the coffee behemoth is planning a huge international expansion along with automation and pay raises.
The company is looking to open more shops internationally, aiming for 35,000 new locations outside of North America by 2030, as reported by NBC News.
Right now, Starbucks has over 20,200 shops in other countries, but with this plan, they want to have a total of 55,000 stores globally. This is a big jump from their current count of more than 38,000.
The company’s president of international growth, Michael Conway, explained, “Three out of every four new stores over the near term is expected to be opened outside of the U.S. as our store portfolio becomes increasingly global.”
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Alongside growing its store count, Starbucks wants to save money to the tune of $3 billion within the next three years. They plan to do this by making their stores run better and by spending less on their cost of goods.
In a significant move that could be seen as a means to negate further unionization of its US retail fronts, they also plan to raise pay significantly for baristas. The company is promising to double their earnings from what they were in 2020 by the end of 2025. This increase will come from both more hours and higher hourly wages. Starbucks will give more details about this soon.
However, it’s not all smooth sailing. The company is currently facing some pushback from its workers, with over 350 of its stores now part of a union. There have been some tough talks and accusations that Starbucks has not been fair to union stores, which the company denies.
Despite these issues, Starbucks recently reported that it’s doing well financially. They earned more money and revenue than expected, which resulted in their shares jumping up by 9.5%. This has increased the company’s overall value to $115 billion.
The new CEO, Laxman Narasimhan, noted that Starbucks is making good progress with their improvement plan that started last September. This plan includes things like better coffee machines and store designs that help make things run smoother and faster. This plan was initiated after the previous CEO, Howard Schultz, said they needed to fix some mistakes the company had made.

