07:45 AM EDT, 09/25/2025 (MT Newswires) -- Starbucks ( SBUX ) said in a Thursday filing that its board has approved a restructuring plan the will see the closure of a number of its coffeehouses and a reduction of about 900 current non-retail partner roles in the company.

Chief Executive Officer Brian Niccol announced the job cuts in a letter issued the same day, saying affected employees will be notified on Friday. Niccol said the company is also closing "many open positions."

The company did not specify the number of store closures but Niccol said Starbucks' ( SBUX ) overall company-owned store count in North America will decline by 1% in fiscal 2025 after accounting for the year's store openings and closures.

Starbucks ( SBUX ) said it expects to complete majority of the store closures related to the restructuring by the end of this fiscal year. The company estimates to incur about $1 billion in costs related to the closures, support organization transformation, and other restructuring activities, with majority of which to be incurred in fiscal 2025.