Starbucks has announced that it will be closing 300 stores this year, including 200 in the United States.
The cuts could result in as many as 6,000 store employees and 700 other employees losing their jobs. A company statement cited "continued uncertainty in the economy" as the primary reason for the closures. Starbucks' profits dropped by 69 percent last quarter compared to a year ago. The cut comes on top of a closure of 600 stores last year.
The details of which stores will be closing are not yet available, but the company says that most effected employees will be notified this month. Where possible, employees will be offered positions at other locations or will be eligible for severance pay.
Although Starbucks has yet to announce which stores will be closed, some Miami University students said they get most of their coffee elsewhere.
First-year Alexa Pohl says she has between one and three cups of coffee each day, but gets most of it on campus. When she goes off campus for her coffee, she prefers Kofenya.
"I like the atmosphere at Kofenya, its more inviting and you can sit there and do work and have a conversation with friends," Pohl said.
Seating is a priority for Pohl, who says she uses coffee shops to work on projects.
"The Starbucks is always so crowded," Pohl said, "I think if it had more seating, I would go there more."
First-year Corey McDonald identifies himself as an avid coffee drinker, and also prefers Kofenya.
"I don't like the whole 'corporation' thing, I think it takes away the individual attention to the coffee."
McDonald also gets most of his coffee on campus, citing convenience and cost as his main reasons. McDonald also says he has cut back on his habit to save money, and believes other people have as well.
"People are cutting back on those little indulgences, and coffee is definitely on that list," McDonald said.
Reporting by Sam Kay
