Headquarters: 2401 Utah Avenue South
Seattle, WA 98134
Employees: 172,000
CEO: Howard Schultz
Stock Symbol: SBUX
Website:
Starbucks Coffee Company
Career Site
Starbucks operates the world's leading coffee chain. At the end of 2008, the company had 16,875 locations worldwide with 11,537 in the U.S. Starbucks stores are a great place for people to relax, meet others and surf the Internet with wireless connections provided by AT&T.
In addition to sales through company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company.
Starbucks is expecting to open this year approximately 125 net new licensed stores in the U.S. and 360 net new licensed stores internationally.
In January 2008, Starbucks founder Howard Schultz returned to take over the CEO position that he previously held in 2000. Overexpansion and the weak economy have hurt sales. The company closed 600 underperforming stores in 2008.
The company announced in January plans to close an additional 300 stores nationwide resulting in the loss of 6,000 jobs. Another 700 workers will be let go from the company in the U.S. and internationally, with about half at the Starbucks Support Center in Seattle by mid-February.
Starbucks fulfilled a $15 million company match to employee 401(k) savings plans for 2008, but determined it should be discretionary in 2009. The company is also reconsidering the paid time-off policy for U.S. retail hourly workers, changing the Stock Investment Plan (S.I.P.) and expanding the U.S. commuter benefits program.
History
Starbucks opened its first location in Seattle's Pike Place Market in 1971. Now Chairman Howard Schultz joined Starbucks in 1982 as Director of Marketing. Schultz visited Italy and noticed the popularity of espresso bars there. He thought this would be a great idea in the Seattle area and convinced Starbucks to open a coffee shop in downtown. Schultz founded his own coffee company and acquired Starbucks' name and assets from its founders in 1987. The company had just 17 stores but would soon grow quickly and went public in 1992.
Starbucks' popularity soared as it opened coffee shops within Barnes and Noble bookstores. It also provided coffee for United Airlines and shops in Starwood hotels. The company's focus on quality and commitment to social causes and the community have made it one of the world's most admired businesses.
Starbucks stopped selling breakfast sandwiches in 2008 to focus on coffee. In April 2008, Starbucks introduced new line of regular coffee called Pike's Place Roast.
Benefits
Starbucks has ranked among the Best Companies to Work for according to Fortune Magazine. Employees receive health insurance for working just 20 hours per week.
Other benefits employees are offered include:
- Progressive Compensation Package
- Healthcare Benefits (Medical, Prescription Drugs, Dental and Vision)
- Retirement Savings Plan
- Stock Options and Discounted Stock Purchase Plan
- Income Protection Plan (Life and Disability Coverage)
- Management Bonus Plan
- Adoption Assistance Plan
- Domestic partner benefits
- Referral programs and support resources for child and eldercare
- Discounted Starbucks merchandise
All employees receive a free pound of coffee each week.
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dunno why everybody is hatin on u. people take things too serious, needs to chillax.
That would be mean.
