June 16 - Starbucks Corp says it plans to subsidize an online bachelor's degree program for its employees in the U.S., hoping to retain its workforce and save on hiring and training costs. Jillian Kitchener reports.
Customers may order their lattes sugar-free, but Starbucks is sweetening the deal for its workers. The coffee giant unveiled plans to partly pay for an online bachelor's degree program for its employees. And they're teaming up with Arizona State University to make it happen. Starbucks CEO Howard Schultz spoke in New York: (SOUNDBITE) (English) CHAIRMAN AND CEO OF STARBUCKS, HOWARD SCHULTZ, SAYING: "Let's create an opportunity, believe it or not, where the junior and senior year of going to school at Arizona State, an unbelievable university, will be tuition-free. And in addition to that, let's take the freshman and sophomore year and let's create the subsidies necessary to create affordability. And let's not limit it to one degree or five degrees, let's open it up." U.S. employees who work an average of 20 hours a week are eligible for the "Starbucks College Achievement Plan." (SOUNDBITE) (English) CHAIRMAN AND CEO OF STARBUCKS, HOWARD SCHULTZ, SAYING: "We want to attract and retain great people. We want to provide you with new tools and new resources to have advancements in the company." Similar to their vast coffee selection, employees can choose among 40 subjects to take. Now that's better than a caffeine buzz.