Starbucks' New CEO Gets Flexibility, Employees May Lose Jobs

Coffee giant Starbucks is making waves with a strict new policy. The company is warning its corporate employees that they could be fired if they don't show up to the office at least three days a week. This comes just weeks after the company hired a new CEO who gets to work from his Southern California home. The memo circulated to one division states that employees who don't meet this requirement may face consequences, including job loss. Starbucks had already started this three-day-per-week requirement at the beginning of the year. The company is now stepping up enforcement, urging leaders to hold their teams accountable. This is a significant shift from the previous message given by the new CEO, Brian Niccol. He had told employees they could work from anywhere, as long as they did their jobs well. But he also mentioned that the office is the best place to work. Niccol, who was the former Chipotle CEO, was offered some perks to join Starbucks. He can work remotely from his home in Newport Beach, over 1, 200 miles away from the Seattle headquarters. Plus, he gets a private jet to travel between his home and the office. The company clarified that Niccol will spend most of his time at the headquarters and will use the jet to visit Starbucks locations worldwide. Starbucks is hoping this move will help boost sales, which have been slow due to inflation. Niccol, who received a $10 million signing bonus and a base salary of $1. 6 million, will also earn more based on the company's performance. He replaced the previous CEO, Laxman Narasimhan, who had a short tenure.