Guidant Financial Group Blog

The hard reality of the flailing economy has hit Seattle where it really hurts: Starbucks has let go almost 200 people at their headquarters and has announced more than 1,000 job losses nationwide (see Latest Job Cuts, Store Closures May Be Last Jolt for Starbucks).

If nothing else is a sign that times have changed, this is. As Seattleites, we often associate care-free, cash-rich days with multiple stops at the corner ‘Bux (local lingo for Starbucks).

But now, just like you, we are leaving our cars in their parking spaces during our breaks and we are filling the company coffee pot more often (and transferring our dollars to another local company, Costco). Unfortunately, all this tightening of drawstrings multiplied by millions of other consumers across the country has translated to job losses at Starbucks.

We look forward to a day when we again can purchase $4 cups of coffee with reckless abandon. Ahh, the good old days.