When Brian Niccol walked into Starbucks in September 2024, he arrived with a hero's welcome and a paycheck to match. The board lured him from Chipotle, where he'd nearly doubled revenue and grown profits sevenfold, with a first-year package worth up to roughly $113 million — a base salary, a $10 million signing bonus, and tens of millions in stock awards. He didn't even have to move to Seattle. Starbucks opened him a small office in Newport Beach, California, instead.
The pitch to investors, customers, and 360,000 employees was simple and emotional. It was called "Back to Starbucks." Slow the orders down. Bring back the ceramic mugs. Let your barista write your name on the cup again. Turn the coffeehouse back into what founder Howard Schultz used to call a "third place" — somewhere that isn't home, isn't work, and feels a little bit like both.
Eighteen months later, on Friday 15 May 2026, Starbucks announced it was cutting another 300 corporate jobs, closing regional offices in Dallas, Chicago, and Atlanta, and reviewing its international support organisation. It was the third round of cuts under Niccol. The first round, in early 2025, eliminated nearly 2,000 corporate roles. The story he was hired to tell is starting to sound different than the one shareholders signed up for.
