New Delhi, Sept. 27 -- Starbucks is taking another step in its turnaround effort. The coffee chain announced on Thursday, September 25, that it will close about 200 stores this year and cut over 900 non-retail jobs. The move is part of CEO Brian Niccol's "Back to Starbucks" plan to steady the business after a difficult year.

Niccol, who joined Starbucks a year ago after a high-profile run at Chipotle, had been expected to bring quick change. Investors initially cheered his arrival. Nasdaq reports that the stock jumped 25 per cent the day he was announced, but the results have been mixed since then.

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Niccol, in his statement, s...