The RTM at my store became a "merchandising, operational support colleague." Aside from losing a team and in some respect, authority, did they receive a drop in pay and what not?
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Yes. They are Receiving Team Captains, not managers anymore. Being colleagues instead of mgrs now, they had to incur a pay decrease and a loss of the extra PTO benefits they previously enjoyed as store leadership. Since the new position was not on level with the previous one they were already in, they did get the option of severance pkg instead. Most stayed, tho.