Starbucks offers to pay staff’s university tuition fees
Never went to university? Well now, there’s a simple way to get your degree: just get a job (any job) at coffeehouse giant Starbucks, and they’ll pay all your tuition! This is an incredibly generous offer that the company is already operating in the US (where Starbucks has enrolled 18,000 staff members on a degree), and which will now be rolled out in the UK. The only conditions are that you’ve been at Starbucks for more than 3 months, and that you don’t already have a bachelor degree. All degrees come from Arizona State University.
Starbucks’ share price has appreciated by 18% so far this year
Source: Yahoo Finance
A Starbucks spokesperson said that the company had decided to offer higher education to workers after staff were asked about “what matters most to them.” She added: “and many expressed how difficult the financial strains can be to obtain a university degree.”
The move may prove a useful one post-Brexit, where the industry is expected to struggle to retain workers. Competitor Pret A Manger (another coffee shop chain) has said that only one in 50 applicants for a job is British, begging the question over where future baristas will come from.
Staff will have the option to complete a degree while working, and have a choice of 40 subjects, including economics, information technology, political science, and accounting. This scheme debuted in the US five years ago, and 2,400 staff members have graduated since.
A review of current university tuition fees in the UK is considering whether, at £9,250 per year, they are too high. Starbucks’ offer will no doubt prove one way in which these payments can be circumnavigated. Michael Crow, president of Arizona State University, said this initiative is an important step forward in providing “an education to all who desire to learn”.
Dominion holds Starbucks in its Global Trends Managed Fund.
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