Starbucks (SBUX) execs, from VPs on up to CEO Howard Schultz, will not be getting salary raises this year. Also, the company is not on track to perform well enough to trigger general management incentive-plan payouts.
(Not that Schultz, at least, is going to have to worry about how to feed his family. Schultz’s salary has been $1.2 million since 2004, and last year, his total compensation was $10.6 million. Also, he owns a shade under 18 million shares of Starbucks stock, valued around $275 million.)
Let’s hope whatever money the company is saving is put to good use. We’re not sure those $11,000 coffee machines are going to cut it.
Starbucks (SBUX) New Plan To Fix Company: $11,000 Coffee Machines (SBUX)
Please Welcome A New Discount Retailer: Starbucks (SBUX) (SBUX)
Starbucks (SBUX) Dead Money For At Least a Year (SBUX)
Business Insider Emails & Alerts
Site highlights each day to your inbox.