Starbucks to close hundreds of stores, lay off 900 workers as part of turnaround plan

Starbucks said Thursday it's closing hundreds of stores in the U.S., Canada and Europe and laying off 900 nonretail employees as it focuses more of its resources on a turnaround .

The Seattle coffee giant said store closures would start immediately. Starbucks said affected baristas will be offered severance packages and transfers to other locations where possible.