Starbucks Corp is implementing is cost cutting plans by closing underperforming stores and laying off staff.

On Wednesday, the company issued 1,000 pink slips related to its newest round of job cuts to U.S. employees, Reuters reported.

In January the coffee chain announced it would close 300 additional outlets and slash as many as 7,000 jobs as it cuts costs to keep up with a deteriorating global economy and soft consumer demand.

The company also said about 500 non-store employees in the United States in Canada have been notified that their jobs have been cut. Around 300 of those positions are located in the Seattle-based Starbucks Support Center.

Starbucks has notified about 870 assistant store managers in the U.S. that their positions were eliminated and similar actions are taking place in international markets where the company owns its stores.

Australia alone saw the closure of 61 Starbucks stores in 2008.