If Starbucks is going to continue to wonder where all of its money is going maybe it should look no further than its CEO and Chairman Bryan Niccols. According to a securities filing, the newly minted CEO (roughly 4 months) has earned $96m almost 6.6k times that of what one of the company ‘s own baristas is paid.
The Lowdown
In a mere four months time, Starbucks newly anointed CEO has taken home such a massive pay package that said package is making news. According to a securities filing this week,(paywall), Niccols has taken home a staggering 6.6k times that of what a part-time Starbucks barista makes on average.
In the same filing, the company actually acknowledged the astronomical difference between a part-time barista’s pay (shockingly low at at $14,674 in wages in stocks, compared to Niccols’ $96m in stocks and bonuses to accept and work the job.)
According to the same article, Starbucks expects to announce job cuts in March.