The worlds largest chain of coffee shops, Starbucks Corp, said it will cut 6,700 jobs and close 300 more stores after reporting first-quarter profits that fell more than analysts predicted.

In addition to the 600 stores Starbucks said it would close last year, they plan to close 200 stores in the United states and 100 overseas. The workforce reduction will eliminate 6,000 café positions and 700 corporate jobs, the Seattle-based chain released  in a statement today.

CEO Howard Schulz said in December Starbucks’ profit would be less than analysts’ estimates at the time as sales worsened in November.