Schultz and Other Starbucks' (SBUX) Executives Won't Get Raises This Year
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According to a company memo, Starbucks (Nasdaq: SBUX) top executives, including Chairman/CEO Howard Schultz, will not get salary increases this coming year.
The memo said no U.S. Starbucks worker at the vice presidential level or above will get raises for the 2009 fiscal year, which starts in September.
Starbucks will maintain a competitive 3.5% salary increase budget for eligible U.S. assistant store managers, store managers, retail management trainees, district managers and most hourly roasting plant partners. A 2% flat salary increase will be implemented for all other eligible U.S. partners below vice president level based on merit.
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