Rent-A-Center Inc. Layoffs

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Topics regarding layoffs at Rent-A-Center Inc.

Speese started the turnaround

All this noise about no merger because the turnaround is working. Who started this turnaround plan and was against selling from the beginning? Mark Speese. Mitch Fadel should be kicked to the curb. Bring back Mark and let Mark finish the work he... read more

Question about store closures

I work for an investment firm and I've been tasked with looking into RCII as well as Aaron's. I'm getting up to speed with the current issues and one area I'm trying to figure out is that same store sales have been strong in 2018, is this because... read more

Customers' payments delinquency rising quick

With the Acceptance Now Collection Centers closing and laying off Collection Staff entirely, along with the type of customers base, payments delinquency is rising quick. The huge savings that made the financial reporting look so profitable might back... read more

Amendment - secfiling

Item 4. Purpose of Transaction. Item 4 is amended to add the following: On December 21, 2018, Vintage Capital filed a complaint in the Court of Chancery of the State of Delaware for a declaratory judgment, breach of contract, specific performance... read more
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No merger

Anybody knows how this will affect us? Will we see more or fewer layoffs than if the merger had gone through? Same for closings? This guessing game is really stressful. I can't decide if this is good or bad news for Rent-A-Center employees... read more

We need managers

As a manager at my store, I work my butt off to be able to best serve my customers. My store is growing leaps and bounds right now due to that store-customer relationship and the fact that my 2 competitors in town do not care about the customer, nor... read more

Major closing incoming to Rent-A-Center

Well, according to results for first quarter, current strategy of turning the company around through store closures is working. Which means it's going to continue and intensify. We are looking at many more closures in near future. In case you are... read more

Agreement

Section 6.09 Employment and Company Benefits. (a) During the twelve (12)-month period following the Closing Date (or, such shorter period of employment, as the case may be), Parent shall, or shall cause the Surviving Company to, provide each Company... read more

The worker cannot maintain the pace...

When RAC terminated 250 employees last March - work load got doubled - some departments (if not all) are really finding it hard to complete required expectations. During the merging process, the company might have the realization that we are needing... read more

Well, here come layoffs

We all know what this sale to a private equity firm will mean for all of us. The first thing they'll do is figure out how to cut costs and the quickest way to do that is to implement layoffs. I'm just not sure how long do we have before it all starts... read more

Sale still not ruled out

I was hoping the whole sale saga would be over after last week, but I guess I was wrong. We got an increased offer, so the sale possibility is back on. I really wish we could at least get a hint of who it is that wants Rent-A-Center so badly they are... read more

We Made The List Again (one I don't want to be on)

I know we have been on this list for a while. Maybe things will change. I had hoped the past years when this came out someone would make changes. https://247wallst.com/special-report/2018/06/07/worst-companies-to-work-for/2/

Who is left to cut in corporate?

The presentation made by Engaged Capital on how the company can save money showed $300 million in savings in Corporate. That means jobs. Eliminating them. As somebody else mentioned already, corporate is already running on bare bones. Who exactly are... read more

They really need to just liquidate the company

According to the employees I’ve seen kept at local RTO stores, the next company will do much worse. Who would want to buy a ‘lemon’ of a company like this. It’s only a lemon because of the careless employees they have. The company is amazing, but put... read more

What happens if we are acquired?

How many layoffs are we looking at when (and even if) Rent-A-Center is acquired? These things never end without a major cost cutting that usually only means getting rid of as many people as they can get away with. I'm hoping I'm wrong, but chances... read more

crickets

This board has sure gone quiet. Anyone still around?

RAC will be lucky to get what they can

People keep saying that they already got a bid for $13 so it has to be higher than that. But we know thats not true, given how bad the company did last year. Last year's "bid" doesn't matter. It's like the RAC board and executives bought a 2017 Honda... read more

This is why the company is going upside down

I was with that company for almost 10 years and the best thing I have ever done was taken a chance and left. I was fired once for calling out my DM (who got the DM job based on his stores sales numbers, not based on knowledge) for giving a 65" and... read more

Acceptancenow DM layoffs 04/16/18

Anyone have anything to comment about all the acceptancenow district managers that have been laid off??? I hear the core will also be losing DMs as well...

The purge continues

It seems everyday that a handful of new people are no longer with the company. I hope these people are jumping ship, but I doubt it.

IT Mostly Outsourced, Execs Mostly Super Rich

We outsourced a majority of IT. This company is being packaged up for a buyout so the CEO and other execs can cash out and ride off into the sunset. It's funny how they just changed the 2nd floor cubes of the IT department (that was just let go) to... read more

Week of 03/06/18

RAC headquarters will be laying off 30% of their IT staff starting mid-week. Truly a sad situation

Is this why?

Someone I know works for this place & tells me a member of upper management says it’s ok to let the store managers do nothing while the store assistants practically run the store. This might be one of the problems. You must have managers who expect... read more

No promotions based on skill

I’ve been with RAC for a number of years and have yet to see promotions based on experience and leadership skills. It seems that employees who show a working knowledge of our company are passed over for those who are less qualified. My experience is... read more

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