Thread regarding Ascena Retail Group Inc. layoffs

Big payday for Gary this week

Looks like Gary and the other executives cleaned up this week ahead of bankruptcy and layoffs. Major pay outs to executives at the expense of the company filed with the SEC.

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Post ID: @OP+15Aq7CF8

7 replies (most recent on top)

I have 15 years of retail experience, they only pay $9 an hour. Oh, I can become a manager for $10.15 an hour. What year is this? What a joke!

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Post ID: @14dao+15Aq7CF8

It's infuriating to know that while my position was eliminated (and my "accrued" vacation time is not being paid out and only full years of service are being considered for severance payments) that the ascena executive team GAVE THEMSELVES bonuses AND reinstated pre-reduction salary levels at the expense of the employees let go! I understand public companies make decisions with their stockholders in mind but this is on another level. This blatant level of disrespect and lack of concern some large corporations show to the dedicated and loyal employees has to stop. When are we going to say "we are mad as hell and aren't going to take it anymore"!

Would be interested to know how Gary can sleep at night - he continues to be financially set so guess that helps! In hindsight, I should not be surprised since he doesn't acknowledge associates on the elevator with a smile or good morning. He truly has no conscience.

I would ask people to boycott ascena stores and not purchase any goods from Ann Taylor, Lou & Grey, Justice, etc. I'm so disgusted

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Post ID: @12msu+15Aq7CF8

This enraged me, so many people were laid off in California stores. They shut down in mall stores and people who have their sweat and tears to drive a successful store didn’t even get a thank you for your service. These are families that are effected. As a society we have to do better. We can’t let corporate people get away with this g like this. I hope the public stands behind these families and boycotts their product for their selfish business practices.

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Post ID: @uvqq+15Aq7CF8

Guess they took the company in the wrong direction....

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Post ID: @ipjx+15Aq7CF8

Ascena is being sued for non-payment of rent, increases debt from the line of credit, tells employees they need to conserve cash and drops them and then pays executives who have been complete failures a bonus

And then it gets better. The bonuses are earned by these circus clowns if they stay six months yet are paid out in advance

So much for the cash crunch excuses

Absolutely disgusting behavior by the executives and the worthless board

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Post ID: @9uwr+15Aq7CF8

So the team that lead Ascena to bankruptcy is going to be rewarded? Shocking...

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Post ID: @3coh+15Aq7CF8

I'm shocked that they are so blatant about it. So many people on unemployment and they do this. One would have to be a sociopath to believe this is OK. Huge bonuses - all salaries returned to
pre-reduction levels but many people still on furlough...

https://www.sec.gov/Archives/edgar/data/1498301/000149830120000051/0001498301-20-000051-index.htm

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Post ID: @bhd+15Aq7CF8

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