Starbucks plans to close hundreds of cafés across North America this week, the latest move under Chief Executive Brian Niccol to streamline and boost the profitability of its operations.

The closures mark the second round of café cuts under Niccol, who joined the coffee giant in September 2024.

The company's fiscal year concludes later this month, which is around the same time when Niccol announced hundreds of store closures last year. Niccol is aiming to eliminate $2 billion in costs by the end of its 2028 fiscal year.

The company said Thursday it will incur roughly $300 million in restructuring charges as a result of the closures.