Starbucks to lay off 1100 workers

(CNN)– Starbucks announced job cuts on Monday, Feb. 24.

CEO Brian Niccol said Starbucks will be laying off over 1100 corporate workers as it tries to turn around its business.

The company will also be eliminating “several hundred” open and unfilled positions.

In addition, the coffee chain is going to eliminate about 30% of its food and beverage offerings over the next few months in order to streamline things.