SEATTLE, July 27, 2009 - Starbucks (Nasdaq:SBUX) today announced to its U.S. partners (employees) that it will make the company discretionary match to the Future Roast 401(k) Savings Plan for the 2009 plan year. In December 2008, Starbucks made its 401(k) match discretionary, to be based on the company's performance over the year.
According to Howard Schultz, president, chairman and ceo, "Our progress over these past few months has given us the opportunity to fund the company discretionary match for the 2009 plan year."
Schultz continued, "Make no mistake, we remain humbled by the uncertain economic environment and know we have a long journey ahead. While we have more work to do, we are making progress and I want to take this opportunity to recognize the important role that all of our partners play in creating the Starbucks experience and fundamentally driving our performance."
In the same communication, the company also announced that it will fund merit increases for eligible partners for fiscal 2010, and that it will continue to provide comprehensive and affordable health care benefits to all eligible partners.
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com.