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Starbucks, the US coffee retailer, has said it will close 600 US outlets and cut up to 12,000 jobs in the next year, as the company struggled to compete in the faltering US economy.
The announcement was made shortly before US car manufacturers said sales had plunged to their lowest level for at least 15 years.
Starbucks plans to close the outlets by the end of March 2009 and the related job cuts would reduce the company’s US workforce by at least seven per cent.
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