NEW: Starbucks Laying-off Workers as a Result of the Ongoing Boycott?

Berjaya Food Bhd (BJFood) recorded a 45.16% decline in net profit for Q1FY2024, dropping to RM19.03 million due to inflationary cost pressures impacting margins. However, despite challenges linked to the Middle East conflict affecting Berjaya Starbucks’ revenue growth, the company aims for recovery after normalizing market conditions.

Starbucks Layoff Workers?

To counter challenges, the group emphasizes cost optimization, labor productivity management, and strategic marketing for the rest of FY2024. Interpreting the optimization plans, it is possible that Starbucks will implement workforce reductions as part of efforts to navigate the challenging market landscape.