I was at Staples Canada head office in Richmond Hill, Ontario for close to 15 years.
For the most part, it was a pretty nice place to work...they actually seemed to care about their employees.
They had their issues, but figured I'd stay there until retirement in a few years.
Then Sycamore bought the company, and for the first year or so...not much changed.
Sycamore was even up front and told everyone that it was their intentions were to increase the value of the company and eventually sell...fine, thats what private equity firms do.
Then, one by one, upper management were shown the door ( I dont feel for them as they were given 7-digit packages)... and a newer, younger management team was installed.
They brought in a "Gastapo" style lower management team whose sole purpose was to intimidate and stress-shock the workers...in hopes that most would quit...in favour of lower-paid college grads...it didnt work...no one left.
Staples is like most companies...extremely management-heavy with few workers to actually get the work done.
My new manager was a "ladder-climber" that had no idea what our dept did...and made a mess of everything we did. This made me think that this company is doomed.
2020 saw the head office close because of COVID-19...and everyone began working from home...which worked extremely well.
Staples numbers began to plummet...Staples refused to acknowledge that "brick and mortar" had died.
They even opened 2 new "glamour" stores in downtown Toronto...during a pandemic...a real head-shaker...absolute bone-head move.
Management saw the numbers and are now in panic mode...
Then it was decided that the older workers in their 50s and 60s with the higher salaries had to go...I was one of them. Even a few low-end managers were let go...the "ladder-climbers" and "butt-kissers" were spared...in order to do the dirty work...but once done, they'll be shown the door as well.
More layoffs ensued...all workers in their 50s and 60s...most replaced by freelancers.
Even saw my position posted on Indeed....lol...my lawyer loved it...
Staples is shedding salaries from the balance sheet in order to sell to a new buyer...but who would be dumb enough to buy it?