Starbucks Chief Executive Officer Brian Niccol total compensation was $31 million in fiscal 2025, a decline from the previous year when he received stock rewards and other incentives as part of a package to lure him over from Chipotle Mexican Grill Inc.

Niccol’s 2025 pay includes a $5 million bonus and nearly $20 million in stock awards, according to a filing from the coffee chain on Monday. In fiscal 2024, Niccol’s compensation was $96 million, the filing shows, and included a stock award of more than $90 million.

Niccol, an Orange County resident who took the helm of Starbucks in September 2024, was awarded one of the largest pay packages among executives at the time.

Starbucks is also mandating Niccol to use the company’s private jet for all his travel, including personal trips, while removing a previous restriction that would have required him to reimburse some travel expenses.

Under the travel agreement, which was altered following a security review, Niccol no longer has to pay Starbucks back for non-professional use of the jet, according to a filing. Previously, he was responsible for charges from personal travel after an annual cap of $250,000.

The company’s filing, released late Monday, cites “enhanced media attention” and “the current threat landscape.” The security study also found “the existence of credible threat actors.” Board members will now review Niccol’s travel on a quarterly, rather than annual, basis.

UPS to cut up to 30,000 jobs this year

UPS is planning to cut up to 30,000 operational jobs this year as the package delivery company continues with its turnaround efforts and reducing the number of Amazon shipments that it handles.

Chief Financial Officer Brian Dykes said during the company’s conference call on Tuesday that the job cuts will be made through a voluntary buyout offer for full-time drivers and through attrition.

UPS is also looking to close 24 buildings in the first half of the year and is evaluating additional buildings to close later in the year, he added.

UPS said in a regulatory filing in October that it had cut about 34,000 operational positions and closed daily operations at 93 leased and owned buildings during the first nine months of last year. The company also announced approximately 14,000 job cuts, mostly within management.

Pinterest laying off 15% of workforce in AI pivot

Pinterest plans to lay off under 15% of its workforce, as part of broader restructuring that arrives as the image-sharing platform pivots more of its money to artificial intelligence.

In a Tuesday securities filing, San Francisco-based Pinterest said it was making these cuts to support “transformation initiatives,” which include reallocating the company’s resources to AI-focused roles and prioritizing AI-powered products. It said it was also working to reshape its “sales and go-to-market approach.”

Beyond the coming layoffs, Pinterest said it will reduce office space. The company expects to complete its restructuring plan by the end of September, incurring pretax charges of $35 million to $45 million.

Pinterest’s job cuts are expected to impact hundreds of workers. As of the end of last year, Pinterest had a total headcount of about 5,200 employees, the company confirmed to The Associated Press.

Compiled from Associated Press reports.