Starbucks is planning to expand its global store footprint by 17,000 to a total of 55,000 stores globally by 2030, CEO Laxman Narasimhan said.

Starbucks’ “Triple Shot Reinvention Strategy” focuses on becoming more global, “unlocking efficiency to generate $3 billion in savings over three years,” and doubling U.S. workers’ hourly income from fiscal 2020 by 2025, the New York Post reports.

Without elaborating on the details of its cost-savings plan, Narasimhan said $2 billion of those savings would come from outside its stores.

Starbucks employs more than 450,000 people worldwide and has 16,000-plus locations in the U.S.

Starbucks baristas earn an average of $17.03 an hour, with the range spanning from $8.55 to $25.70. Starbucks Workers United, which represents 9,000 baristas, has proposed a base salary of $20 an hour with more generous rates in areas with a high cost of living.

In addition, the union seeks annual raises of 5% and “seniority raises that reward longevity.”

Narasimhan revealed the plans at the company's 2023 "Reinvention Update and Holiday Launch" conference.