Thread regarding Follett layoffs

Have things stabilized?

So what’s the deal? Is Follett somewhat stable after the sell of FSS? We wouldn’t know because the health of the company is never communicated! Anyone out there in the know? Care to share? A while back someone mentioned something happening with FHEG in mid October. Well, that’s almost here. Care to elaborate? Yes, it’s sad we have to come to a forum such as this to get information! I know!

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Post ID: @OP+1dhAYLID

12 replies (most recent on top)

B&T sold off! Called it! When 5th generation says the family is not cashing in, do you believe it? My question is why is TL still CEO and Chairman? Failure!!!

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Post ID: @nedc+1dhAYLID

5th Gen here - You're either responsible or irresponsible.

You should probably clear these statements with the CEO of Content before publishing.

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Post ID: @fjdc+1dhAYLID

5th Gen here, I can guarantee you that none of us are making decisions or "cashing in".

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Post ID: @flvg+1dhAYLID

With the sale of FSS the family cashed in on the only part of the business that has been profitable in recent years. It's the only part of the business they could generate interest in. B&T has been a loser since the start. Who in their right mind puts a losing company's leadership (AK) in charge of overall day to day business? What I expect to happen is a fire sale on what remains. All the cost cutting efforts are attempts to make the numbers look better than they are. The fifth generation of the family is trying to cash in on what's left and have started their exit out of the business.

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Post ID: @euhk+1dhAYLID

Anything to share with the FSS meeting on 10/15?

Didn't happen?

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Post ID: @7hsb+1dhAYLID

You had a stress-free month? When was this? Lol.

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Post ID: @7jxt+1dhAYLID

I just got another notice from a vendor that we are behind on payment. They cut our payroll for December and January by so much that we might not even be able to be open. The QUAD is down on a weekly basis. We are supposed to be working on Spring adoptions, but there are so many glitches in CT (double-loading course, incorrect sales info) it is taking twice as long to do half as much. Our CEO has no ideas about how to run a business and does not want to put any effort into it, but he's not going anywhere because he's family. The Ivory Tower keeps announcing the start of all kinds of new projects that they put millions into and then they just forget about it.

However, we had a month where we could go into work without getting sick with stress and thinking that maybe things might be okay, so that is a plus.

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Post ID: @7jov+1dhAYLID

There will be an announcement this morning on changes to FSS (10/15).

Share with the other divisions! What's the word?

Future so bright we're going to need shades?

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Post ID: @3yic+1dhAYLID

There will be an announcement this morning on changes to FSS (10/15).

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Post ID: @3hxd+1dhAYLID

Depends on your definition of stable. Most stores I deal with are showing pretty good financials, I haven't seen a credit hold in months, they aren't pushing charge backs, everyone got a raise, a few new contracts, etc.
Things aren't perfect but I think the constant posts of impending demise are about as accurate as they were a decade ago when I first read this page. Maybe in another decade...

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Post ID: @1qfx+1dhAYLID

But we have the Ivory Tower where we sunk millions into to make it better than Google!
That's the epitome of stable isn't it? TL sitting on the golden throne!
Yeah!

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Post ID: @rwm+1dhAYLID

What's your definition of stable? There is a massive push from all levels of upper management to cut cut cut. Cut payroll, cut expenses, cut services, cut anything that can be cut. The other huge push is collecting AR, because we need that money to pay our vendors. We're also about to deal with a massive paper shortage, which will affect many levels of our business. I, personally, don't find any of these things to be signs of stability.

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Post ID: @ntu+1dhAYLID

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