The layoffs have started. IT is already passing out packets...more to come I'm sure.
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Topics regarding layoffs at Fossil Inc.
UK shopping chain House of Fraser couldn't reach agreement with Fossil on their continuing contract for Watch Station concessions in some 50 store locations. All concessions now shuttered, resulting in hundreds of UK Fossil Folk being made redundant.
I've heard rumors that layoffs will be coming in Mid January. Any truth to this?
This is a master thread about Fossil Layoffs in 2019?
Please pay attention, things are getting worse and worse, just look at the numbers. The executive lineup is sticking their heads in the sand and this will not end well for the worker. You need to look into the dynamics in the marketplace and you'll... read more
Layoff are happening at Fossil in the last 2 weeks Andy H - VP of IT Wholesale was let go and 4 others were let go in the last 2 weeks. Some people just got a phone call from HR and notify not to come back to the office to get their personal items... read more
Pretty quiet here. Im so happy to see that FOSL stock has jumped based upon great financials from Q4. I continue to cheer the company on from a distance and I would encourage others to do the same. No sense in trolling Fossil as a former employee... read more
Recent headlines suggest our stock is moving upward because of a rumor that Fossil might get purchased by a third party. In my opinion, the only reason leadership would sellout would be for a quick payday. They get paid, we get laid-off. A new owner... read more
Fossil still outsource most of its IT Jobs to Infosys still after Ed departure. Don't forget Ed's right hand man, Robert, who now runs E-commerce hasn't done much since he left. Good example of bad leaders and people with no vision. Selling the same... read more
It’s quite easy, all workers at Fossil, and every other company for that matter, are “Temporary.” If you don’t believe that then you are naive. The days of companies actually caring about their employees is over, especially for a public company whose... read more
Good leaders make all the difference during times like this and the good ones will be honest with their people. Bad leaders are nothing more than a factory that creates bitter current and ex-employees. Individuals are expected to give notice if they... read more
Questions asked to my Magic 8 Ball: Statement: Hello Magic 8 Ball. Well, you stated not long ago that our stock would fall to $5 and here we are. I must say that your prediction is a few months past the specific date, but I'll cut you some slack. No... read more
When will store closings be announced?
The stock is crashing on Q3 Profit Loss, not as bad as expected but a lot of this was already priced in. Our global retail comps are about 6% down, this is a very bad sign and things will just accelerate from here. There is nothing in the pipeline... read more
Oh dear Jesus, our earnings are going to be announced on 11/7! I fear this one will be the worst one yet! Marking my calendar to remind me to wear my protective gear and Army helmet starting that day and through the following two weeks. I predict the... read more
I need to ask you a few things should be quick… Are there going to be layoffs, who will be affected by the job cuts, if yes where and when will cuts take place. How about employees in Richardson.
Some folks in APAC were hit 3 weeks ago, and no mentions of it made on the forum. Perhaps fear is silencing the talk. Small group of Richardson photography team also hit too. Many others throughout Company voluntarily left over the last 5 months to... read more
There's some real irony there. https://www.reuters.com/article/us-infosys-ceo-idUSKCN1AY0DH
Folks to be fair even though we all know that IT management s--- in this organization in ALL levels, especially at regional level, however the down fall of the company is not caused by IT alone for sure. The lack of self knowledge of Fossil as... read more
As reported today, "Fossil has a number of launches coming, with products that have increased functionality and other benefits, according to Chief Executive Kosta Kartsotis. The company is keeping hope alive for the latter part of the year."
Anyone know of the Fossil Group severance package policy? I've asked around and with HR and no one has straightforward answers. Store is closing in a few weeks. Thanks
With all the wild daily fluctuations of our stock price, it's clear that the day traders have gotten a hold of it. Never a good thing.
The company is in all kinds of trouble and we keep getting pushed to do more with less. Now you hit us up again with the total time waste of doing an IDP??? Really? Let me keep doing my job to keep the company afloat now is not the time for the HR... read more
If you are still contributing to your retirement plan, keep a watchful eye, or consider eliminating contributions all together. The money being taken from your paychecks may not entirely be going into your retirement account.
News of the day - Relic Brand no longer making product and Metro Service Center to be outsourced. Both will be done in Dec of this year.
OMG! The stock is below $10! Magic 8 Ball called it not too long ago. I wonder what will happen next?
This is not a good sign: Kosta sold 1,075,000 shares of Fossil's stock on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00.
https://www.google.com/amp/s/www.thecerbatgem.com/2017/06/05/fossil-group-inc-fosl-stake-increased-by-nisa-investment-advisors-llc-updated.html/amp Thoughts on this. Are the hedge funds aligning for a buy out? What is the CEOs plan to do with the... read more
My friend said the consultant that comes every time we do layoffs was at the HQ last week - she asked her boss and he said yes more layoffs coming
Stocks dip below 14$ Fossil mismanagement to blame? What's next?
http://www.cbsnews.com/live/video/60-minutes-explores-impact-of-h1b-visa-law/ None of the workers on h1b visas are key skill sets that can't be hired as US citizens. Fossil coached by ISG on how to get around the illegalities.
Many of the Infosys folks assigned to work at Fossil were already in the US on work visas for other assignments including some for petroleum engineering that had nothing to do with Fossil and Information Technology. There were only assigned to keep... read more