60 Layoffs, of good productive employees, many being with Overstock for over 10 years. CEO stated during a company meeting 'you are not promised a job here. No upper management was laid off or let go, they actually hired more C-level executives who... — read more
Let me guess - not a single high level executive is actually going to be considered responsible for completely failing to understand the reality of the world we live in...Maybe they need to hire more vice presidents and not give anyone raises while... — read more
60 employees have been cut today. They just successfully hired new C level management. They brag about multi quarter profits looks like there will be another profitable quarter now they potentionally ruined others lives.
We all saw it coming. Another set of layoffs. This is only the beginning though before they move their SLC warehouse to Reno to appeal to their California market for 1 day shipping. (Despite california being able to ship to Utah within a single day... — read more
Well all. If you haven't been following the news of nutcase Patrick Byrne, everyone said this was a failing company and to run. Paytrick showed his true colors and how mentaly unstable his is. He alone financially set the company on a path of... — read more
Here they go again. Sending out a mass email saying that some people were being promoted and then they fire a ton of them.
OVERSTOCK IS ON ROUND 5 OF LAYOFFS!! Having worked there, I can assure you they DO NOT care about the employees. The first layoff was to supposed save $4 million dollars in expenses. Below will show that they have done anything but that. IF YOU HAVE... — read more
The layoffs did happen. Patrick did not say that the company is screwed because of GSR. The massive drop over the last year is because people tied overstock to bitcoin. If you look at the stocks before Sept '18, it's about the same as it is now. Not... — read more
Overstock.com laid off over 100 people today, as well as 1/3 of all Mac Warehouse employees. They also canceled all raises, all bonuses, and announced internally that they're screwed if a Chinese investor doesn't come through. Yikes.
I have it on good authority that a buyer has been found for the e-commerce business at pennies on the dollar. Big cuts coming to appease the new owner. What are others in the coliseum hearing?
I haven't heard specifics as to level of management, but I was told 30-ish people were fired, with more layoffs coming. This company is the most mis-managed of any I've worked for. Erratic hiring and firing practices. No security for anyone, really... — read more
Anyone have info on the Jan 2017 layoffs? Heard a rumor a bunch of mid and high level mgrs are available for hire.
Now, you need to watch your back - good luck to all
They have been laying off small groups of people recently. Last week it was 30+ people.