Investment is being made in the sides of business that are growing and can make a profit and bring more value. These restructures are hard and lives impacted which is never easy. Staples continues to change to stay profitable and relevant as the business conditions are ever evolving. Doing nothing or continuing to invest in models that are no longer bringing value is not good business and does not set the company up for the next phase the owners have positioned.
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You’re a clown. Furniture had its best year in 11 years. They are getting their money back, trimming what they can and selling retail. Then they’ll move on to another company and ruin it.
Sycamore got their money back within the first year by giving themselves $1 billion dollar bonus! That didn’t include all the assets they sold off! Including DC’s, FC’s, Home Office, etc. This was worth hundreds of millions more. They estimated Contract business to come back strong starting in October. However, that didn’t happen. Most companies are working in a hybrid format letting people work a few days from home. Some companies are letting people work full time from home. This is cutting back on needed supplies such as printing and other office supplies. While some of this business transferred over to Dotcom it wasn’t close to make up the difference! This was a huge miscalculation on Sycamore’s part! The other big miss was that Staples became a “woke” company. Basically they have been preaching the business acumen of Critical Race Theory! SD spoke more about this than the sad state of the business. To prove it, Staples had to go out and find minority owned businesses so they could do business with them and to be able to offer to other “woke” companies. Good luck to Staples.
I really agree with the post that starts out, “Wake up”. The grass can be greener on the other side. Don’t wait to receive the devastating news that you have been let go after you have devoted 15+ years to that company; because it WILL happen. Trust me; it’s not a good feeling. I had a couple of chances to leave over my 15 years there and chose to stay. Don’t make that same mistake. There are other companies with great people out there anxious to embrace your experience.
Its a lot better to look while working. It’s hard but there are so many better companies out there.
Wake up! None of the actions that have been taken over the last several years since Sycamore Partners acquired the company have been done in the best interest of the long-term health of the organization, and especially not to even slightly benefit the employees. SP simply desires to extract as much cash out of Staples and will then move on.
Anyone working there that thinks their career has any type of long-term potential is delusional. There have been at least five rounds of significant layoffs in the last 18 months. Organizations that have a long-term projection of financial growth, and consider their employees a valuable asset do not repeatedly do layoffs within such a short window of time. Unfortunately, even though attempts have been made at tweaking the business model at Staples, they have been unsuccessful. Their business model is extraordinarily outdated and becomes more and more unsustainable each day. Challenges related to COVID-19, customers converting to more of a work from home model, more sophisticated dot com competition, and woefully incompetent leadership have only accelerated the decay of the Staples value proposition within the marketplace.
Run don’t walk! Now is the time to start something fresh and seek employment elsewhere. The job market is currently the best it has been in years and is definitely a candidate-driven marketplace right now. There are open positions available at all levels. Now is the time to refresh your résumé, build or update your LinkedIn profile, start networking with recruiters and professional connections, and begin applying to jobs elsewhere. The odds are definitely in your favor based on job market conditions. Get moving now before you become a Staples layoffs statistic in six months!
Since sycamore took over staples went from a profitable yet shrinking company and they loaded us up with so much dept that theese cuts where nessarsy to keep their profit flow going. The overloards don't care if staples dies or not because they have already got their money back plus many billions more, all on the backs of our hard work. Staples doesn't even own home office any more
- This company is doomed.
RQD has a plan - changes were necessary
Someone is drinking the kool-aid
What investment? Details would be great because I haven’t seen anything except budget cuts across the board.