SBUX - Starbucks' Franchisee AlShaya To Lay Off 4% Workforce Due to Gaza Conflict Aftermath: Report | Benzinga
Gulf retail giant AlShaya Group, known for its Starbucks Corp (NASDAQ:SBUX) franchise in the Middle East, is reportedly set to lay off more than 2,000 employees due to business setbacks linked to Gaza war-related boycotts.
This decision affects about 4% of AlShaya’s workforce, mainly concentrated in Starbucks outlets across the region, reported Reuters.
The boycotts, triggered by Israel’s conflict with Gaza, have created challenging trading conditions, leading to the reduction in staff, the report added.
The company reportedly assures support for departing employees and ...