Starbucks announced it will provide a 2% salary increase to all salaried employees across North America this year, marking a shift from prior merit-based raises determined by managers. This adjustment affects corporate staff as well as manufacturing, distribution, and retail employees. The raise is below the prevailing inflation rate, which is close to 3%, effectively resulting in a real wage decrease for workers. The move comes amid the company's ongoing efforts to control costs under CEO Brian Niccol's turnaround strategy. Separately, Starbucks is preparing to receive non-binding bids for its China business within two weeks. The company has invited potential bidders including Primavera Capital, Carlyle, Hillhouse, and EQT for management presentations, with possible additional interest from KKR, Bain Capital, and Tencent. Meanwhile, reports highlight a widening pay gap at Starbucks, where CEO Brian Niccol earned $95.8 million, approximately 6,666 times the median employee pay of $14,674, amid concerns over union-busting and workers relying on food banks.
スターバックス中国事業、株式売却先候補に2週間以内の提案要請=関係筋 https://t.co/wzbElBORNQ https://t.co/wzbElBORNQ
Starbucks $SBUX expects non-binding bids for its China business within 2 weeks, per reuters. It has invited Primavera, Carlyle, Hillhouse, and EQT for management presentations, while KKR, Bain Capital, and Tencent could also submit offers. https://t.co/Fxxf9XOFyn
US corporate titans earn 285 times their average worker’s pay, compared with 122 times in the UK. ✍️ Martin Van Weyer https://t.co/PvZZCxU2cL