OPEN THREAD conversation-starter: You want to talk about 401Ks, according to e-mails I'm getting

One Starbucks Gossip reader writes: "On the company portal, a bulletin released 12/16 noted a change to the Company's 401k match.  For calendar year 2008, Starbucks will make a company match based on current policy; for CY2009, Starbucks will follow a discretionary match policy for the 401k. I think this would be an interesting thread for discussion." Please explain to non-Starbucks employees  who visit here what this all  means, and then discuss it ... or anything else Starbucks-related.

Comments

[BCbarista]

We just tried the new currant berry chai and apple chai last night, I am not impressed! We also made the mistake of adding milk to it, which immediately curdled! Gross.

Anyone else tried it yet?

i've been drinking apple chai for years, i'm glad they finally added it to the menu.

[mc]

Is this the sign of the times? FedEx is also stopping 401k matches for at least one year. Wow, retirement looks dimmer and dimmer!

i hate to say this, but the 401k was never really impressive to begin with. The major loophole that it always had was that although you were required to make contributions via biweekly deductions, Starbucks was only responsible for the match at the very end of the year.

This is how I was screwed- I left in November after faithful contributions all year long, and recieved no match because I wasn't an active employee at the time the match was granted.

I've worked for a few companies prior to starbucks, and never, ever had a 401k loophole so big for the employer.

Does anyone know the actual changes made for 2009?

[BOSTON STARBUCKS REBEL]

I believe Starbucks should move to ask Washington for bailout money. I recommend $2-5 billion would be good enough.

[Lisa]

All I know about this is what I read on the Portal - that starting in 2009, Starbucks has the option of contributing or not to our 401(k) plans, and at a rate that they determine at the end of the year. So if they want to match 2% of our contributions, they can do that, or 0% or 100%. I'm sure it's all determined by how well the company is doing, like Bean stock.

Why bother at all? Just remove the matching altogether, because I'm sure that is the plan within the next year or two. Yes, it is variable, but you can bet your salary they won't match at 100% again - we'll be lucky to hit 50%.

This is all so backwards... one of the lowest scores the company receives year after year on the Partner View Survey is around compensation and Total Pay, and they have just made it worse instead of better.

[aeiou]

I haven't read the portal information yet, just what's been posted here, so I don't know the full specifics. Based on what I've read here, though, I'm kind of disappointed that I won't be moving up in the matching scale this year, like I'd been looking forward to. Does anyone know if there's anything left to look forward to once I hit my five year point? Or do I just have more work to look forward to and I should just be thankful for that?

[pipes_surf]

I'm mad as hell no one in a Starbucks knows how to make a dry cappuccino. I even say bone dry and what do I get? Crappy foam with 3/4 of the cup full of milk. Seriously...I'm going back to my espresso machiatto. I went to coffee bean last night and I didn't even have to ask for it dry and I got a perfect cap.

[holidaygnome]

Today is payday in my area and my check has not been deposited into my bank, it is "pending". Also had some customers with automatic reload on their cards come in yesterday and say that their cards have not been reloaded and should have been. Anyone else having banking issues?

[roflcopterz]

pipes_surf, you have a common case of n00bs.

[Sound of Silence]

pipes_surf, do all of humankind a favor and stay clear of Starbucks and keep going to coffee bean. I'm sure the employees of that fine establishment love to see you coming through the door each and every day so they can bask in your wonderfully grounded sense of perspective and good taste :)

~~~Cheers

[GRTL]

Totally, I make awesome caps and have been told so by many a customer and coworker. I will tell you, a lot of them struggle making them because of a) no training and b) they feel completely rushed when on bar.

I even work with a barista who when he gets a cap calls me over. I have tried training him and he doesn't get it. I am not a shift/asm/or manager and feel they should train him or talk to him.

[beantheredonethat]

The whole 401(k) program at Starbucks is a really not quite what it seems.

The whole matching contributions is quite low and if you leave before the year, like when I was laid off, well, you are screwed and do not receive a dime.

Downward

[sample cup]

RE: Cappuccinos

The thing is, from what I have learned FROM STARBUCKS (not Europe or some other american coffeehouse or even the corner store) is that 1) a good cappuccino can be free poured, 2) should be able to be made from the exact same technique as I would make my "latte" milk. I hate hate hate seeing excessive bubbles and froth being spooned into Venti-sized super-dry "cappuccinos" instead of velvety milk-foam poured into it. I do it for a customer when I have to, but I do not feel apologetic when it takes me a second or third try to get it "dry enough" for them or even if I decide that I need to remake it before I hand it off.

How does one actually enjoy such a cappuccino? The one's I've tasted that was made using my technique for those extra-dry capps just aren't cohesive and seem like such a waste.

[BOSTON STARBUCKS REBEL]

In other news, Starbucks will soon sell cards that give 5 cents to fights AIDS through the (RED) campaign. Now, if you buy a bottle of Ethos water with your (RED) card you help get them drugs and some water. OUSTANDING!

[mc]

The change in the match should not affect our customers. Actually, it might help improve operations as those funds could be used toward our products or in store ops, is my guess.

It mostly affects those who contribute to a 401k. Sadly, the direction SBUX has taken is indicative of how important it is one for to be fully financially responsible.

No more pensions. No more matches. I would not be surprised if medical benefits one day disappear as well.

[tutTutChifs]

Ïî÷àùå ïèøèòå ñìàéëèêè, à òî âñ¸ ñëèøêîì ñåðú¸çíî

[will]

Med benefits won't disappear, they'll just keep raising the premium and deductibles.

7 dollar shares for bean stock is great, though.

[formerstarbuckslover]

at least you all have jobs, and 401K's . try working for a corporation for 20 years, constantly sacrificing family needs to work obligations, working 50+ hours a week, being award Employee of the Month twice (which, by the way, required a change in the "only once per employee rule"), spending Sunday afternoon wired in, so you can get a jump on Monday, and loving it, loving your job and the company so much, because you bought into the "We Take Care of Our Employees" creedo they just love to spout, only to go to work one Tuesday, and being tossed out like so much trash. No explanation, no offer of another job in the company, no letter of recommendation, no nothing.

Imagine being 50 years old, and sending out resume after resume for 6 months, with no responses, as this company decided to eliminate your job in the worst job market in 40 years. Imagine pouring threw the want ads, and seeing your job posted as a non-benefited, contract labor, at 2/3'rd the salary. Imagine knowing the company was still profitable, just not profitable enough. Imagine knowing that you will soon lose your house if things do not change. Imagine knowing you will not be able to send your children to college as you once worked for, day after day. Imagine surfing Huff Po seeing the CEO pontificating about Corp responsibility.....

I have had it with SBUX. I must say that after New Orleans I was excited to come back to work. Since then its been more and more bad news. The 401K match is the last straw for me. Its not that were a bad Co to work for, its that we "claim" to be a great one, and that is simply not true anymore. Let stop lying shall we, we are just an okay place to work. Not the worst, but a far cry from one of the best. Bottom line.

[curious]

Yes! I feel as though I am lying. We are good, but we are no longer great.

[formerstarbuckslover]

SBUX is not a good or great place to work... a good or great place to work would never never do what they did to long term employees who loved the company like nothing else. Go ahead, disagree, until it happens to you...

[Field Partner]

The potential loss of matching to the savings plans is just another step management has taken to discourage the best workers from staying at Starbucks.

[4%]

the match isnt that great to begin with.

0-2yrs: 25% match for the first 4% of your salary
2-5yrs: 50% match for the first 4%

if your a shift @ $10/hr, thats $20k/yr if 40hrs/week. 4% of that is $800. a 25% match is $200.

a WHOLE $200 into your 401k for a years work.
whoooppppeeeeeeeeeeeee!

[Zipy]

Free money is free money. It's tax free, for the time being, and they don't have to give you a dime. My how people seem to bash free money that starbucks never had to offer to anyone but the upper tier exec's. You hate your benefits so much? Go work at some other fast food retailer and problem solved.

[Oscar the Grouch]

Agreed -- a company that cares about it's employees wouldn't do this. Further, a company that cares about its customers wouldn't treat its employees this way. Clearly this is a death-spiral by bad management practices and a clear lack of strategy.

[MissingMyMelonSyrup]

Someone above our heads in Seattle will learn someday!

[Ben Dover]

Ouch Howard! That hurts!

[Melody]

Zipy, I think the problem is that Starbucks sets up the expectation that it takes care of its partners well. So people are disappointed when they're not getting more ...

Having said that, in my own experience, finding any job with any employer matching 401(k) in a retail position is hard ... And unheard of in a part-time job.

As an aside, about 10 years ago I worked at "The Limited" (a clothing store) part-time and I could buy stock in "The Limited" through deductions from my paycheck. There was NO discount on the stock! The fact that you get 15% off your stock purchases is a nice thing to offer you.

I currently have a 403(b), and it is entirely self funded. I have no 401(k).

I'm NOT trying to be disrespectful to baristas because I love you guys a lot, but at least from my own world of experience, you guys have generous benefits. Perhaps I've just been unlucky.

Since this is an open thread, does anyone know the date all the new tea beverages launch?

@formerstarbuckslover - I'm sorry you went through that. Maybe your position needed to be eliminated but the gripe is often not what was done, but how it was done. :( Sounds like you could've been treated with more respect and dignity.

Lay offs are a sign of the times though. Everywhere around me people are under the grey cloud of possible layoffs, and they might even hit too close to home. It's the current economic weather: Drizzle, cold, possible layoffs, with partly sunny skies by June hopefully. :-(

[L]

New Drinks officially start Jan. 3rd.

But we have a 4-day long rollover to accomplish, as there's no off the floor time allocated to do it, so it might end up being a soft launch over Jan. 1st-4th. But officially, Jan. 3rd is the launch date.

[GossipGirl]

US SMs aren't getting laptops until 2011.

ASM role will be phased out by Q3.

Venti Hot Espresso Beverags will have 3 shots starting in Q2.

Stores will be getting McNuggets Scones in Q2.

[quan say]

starbuck need to be honest with themself.
check and adjust.
who running this company?
Cliff i know it aint you.. you to innocents... Go back to English.

And Howard, dude you so cute.. with yo mullet and suit on.

But you acting like angela lansberry
"it's like murder she wrote up in here."

[will]

Gossip girl -- Is this just gossip, or where did you hear this? My gf is an ASM, I'd like to know the probability of this being true. Is this for sure, every market? Raising the threshold, or what?

And 3 shots in a venti? I suppose that's a good thing, but speed of service will take ANOTHER hit.

[ASM2000]

i feel ya quan say.

Starbucks is really sounding like a bad mystery episode.

what next?

a re-run of unkept promises.
a new misshit statement?
a new banasty smoothie?

[GossipGirl]

They will slowly do it.
1st: raise the threshold to afford an ASM.

There is no room for dev.

You must be a CE in order to remain ASM.
I cannot say anymore.
Expect a conference call in early jan.

[will]

I'm sorry, CE?

Thank you for your help.

[Sarah]

Sample Cup-
You're right. A really good cappucino(and a properly made one, if you ask me) should be a "short" size. maybe a tall. A venti is way too hard to control. If I wanted that much cappucino, I'd order multiple small ones instead of one huge one.

[IndyBarrista]

My SM heard that Vivano will be going away quietly in January. Sales have been on a steady decline. I'm wondering if this is just our region, or everywhere?

[GossipGirl]

SIKE!
that just gossip.

uh oh, i'm an asm. i'm at a high volume store, and i'm a very high performing asm (2.5 on my last review). constantly touted as one of the best asms in the district. should i be worried?

[Kathy]

Melody
I have to let you know that I got to use my GOLD CARD today!!!! I drove 1 1/2 hours to a different state to a SBX inside a shopping mall. They were having a 20% off sale. My daughter went with me and she bought my christmas presents.
I am soooo happy that I finally got to use it. I got a french press, which I have never tried but have heard so much about, some boxes of biscotti, mugs, coffee, tea YEA! I felt like a kid in a candy store. They had items I have not seen before.
Happy Camper here today.
Also I can't wait to hear abt the new tea drinks. My daughter is a big tea drinker. I have heard of one called a Fog Cutter, an apple chi & a current berry chi, are there more?

[chicago sm]

yeah, the pull my finger :( apple sausage chai latte and ground beef vivanno:)
hmmmmmmmmm

Vivanno is actually going to be expanded according to what Michelle Gass said in the biennial investor conference.

Ground beef vivanno sounds great, does it come with a mustard whip topping and bacon bits on top? :-)

[ME]

today I was told to read the training material for the new tea lattes on my break. I was told to watch the training video during my next shift during my break. Why bother to give us breaks at all?
I used to read all kind of work related stuff on my break, but I refuse to be forced to use my break for this. From now on I'm leaving the store for my breaks.
And if I will have a customer order a tea latte before I had a chance to read the material on the floor, I will do it right then and there, informing the customer politely about the situation and redirect him with complaints to my SM or DM.
Fun times ahead!

[Mrs. Tillinghamshackles]

New Drinks:

London Fog Tea Latte (Hot)
Black Tea Latte (Hot or Iced)
Vanilla Rooibus Tea Latte (Hot)
Apple Chai Infusion (Hot or Iced)
Berry Chai Infusion (Hot or Iced)
New Green Tea Latte Recipe (Melon is being discontinued. The drink will now be made with Classic Syrup. Water is also being eliminated from the recipe, as we will now be steaming the matcha directly into the milk).

[Secondary]

I have some silly questions I've been saving for a while.

Clothes! I can't keep my blacks black and my whites turn brown after a couple months! Any laundry secrets out there? How much work attire does everyone have? I feel like I'm constantly buying work clothes!(I warned these were silly)

Seattle Stores. What's it like to work in the birthplace of SB? Is it really different from other stores? With ssc, fancy test products, tourist and just being in starbucks in Seattle.

Transferring out of State. I'd love to hear peoples stories of long distance/different market transferring. Its one of the big reasons I joined the company in the first place, and have been wondering how difficult/easy the transition is.

Hopefully you guys will have some fun with these. R.I.P. Melon your delicious Soy grtl went straight to my gut. I will miss you.

[StarbucksBarista]

Bone dry= no milk

No milk= espresso macchiato

A cappucchino by definition is about half foam, half milk plus shots right?

If your're gonna order a bone dry cap...there's a name for that: Espresso Macchiato, order that please. No room for confusion.

[StarbucksBarista]

Btw, we'll be getting laptops this summer..

[Coffee Soldier]

To ME...my DM told me the other day to have partners read the promo stuff on their ten minute breaks becauase technically we pay them so they could be reading while sitting! I find it absolutely appalling anyone even thinks this way. Those baristas work DAMN hard and when they finally get a ten it's to rest, eat quickly, or run to the bathroom since we can never seem to get from behind the counter anymore with one less person on the floor! Needless to say I just looked at my DM in shock and silently thought another nail in the coffin.