Key facts
- Starbucks is cutting corporate jobs in London.
- Starbucks is cutting corporate jobs in Hong Kong.
- Starbucks is giving licensees more control over stores outside North America.
- Starling Bank is reorganizing its board of directors.
- The Starling Bank board reorganization follows multiple departures.
- The Starling Bank changes are a response to recent board exits.
Starbucks is implementing a strategy that involves reducing corporate positions in its London and Hong Kong offices. This decision is part of a broader plan to transfer more control of its stores located outside of North America to its licensees. The company's objective is to grant these partners increased autonomy and decision-making power over their respective markets. This strategic shift suggests a move towards a more decentralized operational model for Starbucks' international presence.
In parallel, Starling Bank is undergoing a reorganization of its board of directors. This restructuring follows a series of departures from the board, prompting the bank to streamline its governance. The changes are a direct consequence of several board members recently leaving their positions. The bank aims to adapt its leadership structure to the new composition of its board.