Merry Christmas you underpaid, overworked coffee barista boys and girls. Uncle Howard Schultz, your founder and CEO, has found another way to screw Starbucks (SBUX) employees, if he wants to. According to The Wall Street Journal, "Starbucks Corp. told employees the company won't guarantee that it will make a company match to their 401(k) accounts next year."
Keep in mind that Starbucks still makes lots of money. In the last reported quarter, the coffee retailer improved revenue by 3% to $2.5 billion. Operating income was down to $14 million from $248 million in the same period in 2007. But, Starbucks did take a $99 million restructuring charge this year.
rest at http://www.247wallst.com/2008/12/starbucks-sbu-1.html
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