Starbucks Corporation, hit by an $11 billion value loss, faces severe repercussions after a solidarity tweet sparked global boycotts. Since November 16, shares plummeted 8.96%, triggering a 12-day consecutive decline—the longest in its history. Amid denial of wrongdoing, CEO Narasimhan remains optimistic despite challenges. The boycott s impact stretches globally, with Egypt layoffs indicating financial strain. Starbucks confronts a daunting task to salvage its reputation amidst escalating tensions and market turmoil.
Starbucks Corporation, hit by an $11 billion value loss, faces severe repercussions after a solidarity tweet sparked global boycotts. Since November 16, shares plummeted 8.96%, triggering a 12-day consecutive decline—the longest in its history. Amid denial of wrongdoing, CEO Narasimhan remains optimistic despite challenges. The boycott s impact stretches globally, with Egypt layoffs indicating financial strain. Starbucks confronts a daunting task to salvage its reputation amidst escalating tensions and market turmoil.
Starbucks Corp's recent weeks have been fraught with turmoil, as a combination of boycotts, staff strikes, and a lukewarm holiday promotion led to a $10.98…