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Friday, March 21, 2008
Starbucks feels the pinch of latte factor
Already reeling under the intense competition from McDonalds and the slowing economy, Starbucks has another problem to deal with - as per a California Superior Court judge, the company’s practice of allowing supervisors to share in employees’ tips violates the state law. As a result of this ruling, Starbucks has to pay back tips of $87 million and interest of $19 million.

Considering that the company hasn't been doing all that well lately and it's stock has been taking a beating, even for a large company like Starbucks, over $100m in penalty is a sizeable amount - that's a latte factor it could have lived without.

For related articles, see:

Fortune: Starbucks found stealing tips

Yahoo/Associated Press: Starbucks Ordered to Pay Back Tips  eLearners  Earn Rewards at MyPoints.
posted by Ruby @ 7:44 AM  
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