Starbucks Plans to Ax 1,000 Jobs

Starbucks is planning to slash another 1,000 jobs by early next month, a source tells the Seattle Post-Intelligencer. About a third of Starbucks headquarters will get the ax, along with field workers and district managers, but not baristas. The Seattle-based company has cut more than 2,000 jobs and suffered from low employee morale since Howard Schulz returned as CEO a year ago, the Seattle Times reports.

"They have us cornered," said a manager at an East Coast store. "They know the economy is bad right now, and we can't afford to walk out of here." (More Starbucks stories.)