Following the announcement that 16 Starbucks stores would be closing because of what they said were safety.

Starbucks CEO- Announcement

Starbucks CEO- Video Leaked

Starbucks CEO Howard Schultz said in a video leaked that additional closures were in the pipeline.

Starbucks confirmed the authenticity of the video to Insider however, it did not specify the date.

Starbucks CEO- Authencity

Starbucks did not provide any details about the other stores that could be in the process of being remodeled.

Starbucks CEO- Being Remodeled

The company that makes coffee revealed plans to shut down 16 coffee shops across Los Angeles.

Starbucks CEO- To Shut Down

Seattle, and Portland, Oregon, along with other cities before at the close of July.

Starbucks CEO- Other Cities

As the announcement was made at the time, the Starbucks spokesperson confirmed to Insider.

Starbucks CEO- Spokesperson

Schultz claimed he'd heard retail employees voice concerns over security during listening sessions.

Starbucks CEO- Retail Employees

Performance of Goldman Sachs closely believe that as the economic conditions get worse.

Goldman Sach on Recession