Starbucks will be closing its stores this week in order for their employees to undergo racial-bias training, which will come with a hefty price tag for the Seattle-based company.

According to financial reports, Starbucks is said to lose more than $12 million in profit as more than 8,000 company-owned locations and its corporate office will cease operation temporarily. 

While this training may be a costly endeavour, it will definitely help the coffee giant mend some internal strife after a string of racially-charged incidents made headlines worldwide. These seminars will be open to up to 180,000 employees, who will also be paid for participating. The company is hoping this will nullify any customer service-related issues, while effectively boosting their long-term value.

"You want to patronize a business that treats its employees and customers well. Starbucks has gone much further than many other companies in this regards," reveals John Zolidis, president of Quo Vadis Capital. "The sensitivity training, together with everything else Starbucks is doing, should be beneficial to the brand."

These training seminars will last three to four hours, and will be guided by workbooks, employee conversation starters, as well as videos presented on iPads.