Starbucks CEO calls for peace after company lost nearly $11 billion amid worldwide boycott calls

Starbucks CEO calls for peace after the company reportedly lost nearly $11 billion amid worldwide boycott calls!

The company has been caught up in controversy since the Israel-Hamas conflict broke out on Oct. 7, leading to calls for boycotts, plummeting stock and vandalism at some of the chain’s 16,000-plus US locations.

Starbucks CEO Laxman Narasimhan is calling out what he described as “misrepresentation” about what the company stands for amid tensions related to the Israel-Hamas war.

Narasimhan’s end-of-the-year letter written to employees has surfaced revealing that the brand’s “stance is clear,” and the company “stands for humanity.”

“While I am grateful for so much, I am concerned about the state of the world we live in,” Laxman Narasimhan, who took the position in March, wrote in the letter to employees.

“There are conflicts in many parts. It has unleashed violence against the innocent, hate and weaponized speech, and lies — all of which we condemn. Cities worldwide — including North America — have seen escalating protests.”

“Many of our stores have experienced incidents of vandalism. We see protesters influenced by misrepresentation on social media of what we stand for,” he wrote.

“We have worked with local authorities to ensure our partners and customers are safe. Nothing is more important. Our stance is clear. We stand for humanity.”

A clarification from the company’s CEO arrives after Starbucks faced massive backlash recently amid the Israel-Hamas war, which has led to tension and even lawsuits between the company and Starbucks Workers United, the union that represents some of its employees.

It started in October, as the union made pro-Palestine posts on social media, including one that said “Solidarity with Palestine!”