Starbucks recently announced that it will close 300 stores, affecting 6,000 employees, and lay off 700 employees who don’t work in stores. This news was an unfortunate follow-up to the coffee store chain’s 600 store closures and layoffs last summer. But the latest announcement contained something new: management skin in the game.

In addition to the cuts, Starbucks’ Chief Executive Officer Howard D. Schultz will reduce his salary from $1.2 million a year to less than $10,000 a year.

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