CEO said he is cutting his Salary by 50%, So believe He must put huge number of employees on Partial Furlough or Salary cut. And in extreme case Full Furlough. Its basically a Capital reduction of company. I donot think by just cutting couple of Employee Partial Furlough or Salary cut, Staples can save huge amount of money. Its just March Sales Drop. Keeping fingers crossed for Apr, May ...
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Oh no... maybe he will have to tap the $63 million of KO stock sold since 2015?
Boo friggin Hoo! SD wants us to feel sorry for him because he took a 50% pay cut from his multi-million dollar salary while the rest of the Fortune 500 CEOs forgo 100% of their salary so they can pay their employees. So sad to see Staples devolve into the typical corporate grinder that Tom Stemberg tried so hard to avoid.
I dont believe for a minite the pay cut is real. There is surley a plan to re coup that and its a PR Play.
DM told us only one store stopped paying rent....next day forbid us from talking to a landlord if they approached us.
DM told us to poach good employees from other companies who had been layed off amd give everyone under 10 hr a week to be prepared to replace the staff who are staying home.
We all had our suspicions about these guys but this has shown their true colors.
True scumbags must be on top to drive these DM's to sacrifice their souls. I wonder if My DM will be able to note the sad smoldering disregard borderline hatred in our eyes mext we meet.
But were over a barrell needing work and enjoying helping customers, But I for one will not forget and I will act accordingly.
I hope sp and this pile of feces company go down the drain. Better opportunities will present themselves. Good day