** Shares of Starbucks SBUX.O rise as much as 1.5% to $113.48

** Co says it will eliminate 1,100 corporate roles as part of CEO Brian Niccol's turnaround efforts

** "We are simplifying our structure, removing layers and duplication and creating smaller, more nimble teams," Niccol says

** Says the action will not affect in-store teams

** Adds co will continue to hire for priority positions

** Separately, co says it is removing few less-popular beverages, in line with Niccol's plans to simplify menu

** SBUX fell 5% in 2024

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))