After Monday’s stock market nosedive, Starbucks CEO Howard Schultz decided to send a mass memo to his staff.
In an email received by 190,000 retail employees, Schultz wrote, “Let’s be very sensitive to the pressures our customers may be feeling.”
The subject line of the message read, “Message from Howard: Leading Through Turbulent Times,” and also explained how the previous day’s “market volatility” and recent “political uncertainty both at home and abroad” is sure to lead to increased anxiety for Starbucks customers.
Here’s an excerpt from the memo, which can be read in its entirety here.
“Today’s financial market volatility, combined with great political uncertainty both at home and abroad, will undoubtedly have an effect on consumer confidence and perhaps even our customers’ attitudes and behaviour. Our customers are likely to experience an increased level of anxiety and concern. Please recognise this and — as you always have — remember that our success is not an entitlement, but something we need to earn, every day. Let’s be very sensitive to the pressures our customers may be feeling, and do everything we can to individually and collectively exceed their expectations.”