Press release
Starbucks Commits $1 Billion in Fiscal Year 2022 Investments to Uplift Starbucks Partners (employees) and the Store Experience
Next round of investments will lead to enhancements in partner pay, modernized training and collaboration, store innovation and a return to the celebration
About this update from Starbucks Corporation
[{"type":"text","content":"\nNext round of investments will lead to enhancements in partner pay, modernized training and collaboration, store innovation and a return to the celebration of coffee\n\nWith these new investments and record customer demand, Starbucks expected to deliver historic financial performance, returning to healthy long-term growth\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Corporation (NASDAQ: SBUX) – Today, on Starbucks FY2022 Q2 Earnings call, ceo Howard Schultz announced the company will make additional investments in partners and stores for prioritized areas such as increased pay, modernized training and collaboration, store innovation, and the celebration of coffee, bringing the total investments to nearly $1 billion in this fiscal year alone. This decision enables Starbucks to meet record customer demand and partner needs in an operating environment deeply impacted by COVID.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220503006344/en/Starbucks announced the company will make additional investments in partners and stores for prioritized areas such as increased pay, modernized training and collaboration, store innovation, and the celebration of coffee, bringing the total investments to nearly $1 billion in fiscal year 2022 alone. (Photo: Business Wire)\nOn the call with investors, Schultz shared, “What you will see is the transformation of the Starbucks customer and partner experiences. The transformation will accelerate already record demand in our stores. But the investments will enable us to handle the increased demand – and deliver increased profitability - while also delivering an elevated experience to our customers and reducing strain on our partners. And we will reintroduce joy and connection back into the partner experience.”\n\nSince his return as ceo on April 4, Schultz and other Starbucks executives have been visiting retail and roasting plant partners around the country to hear firsthand how their work and lives have been impacted over the last two years. In immersive collaboration sessions, many partners spoke bluntly of the challenges on and off the job, and the unprecedented operational and physical impacts from COVID on the partner and store experience. They offered suggestions for improvements and innovations based on their direct experience, gave fe...