Thread regarding Follett layoffs

If they lost $100 million in the last two years have they finally written off all the obsolete books that they refused to let us write off in a timely manner like any other operation?

Indeed. Virtually every aspect of our jobs is a total nightmare right now and no one at the top seems to be doing anything to fix it. Who is actually steering this ship?

If this company is losing so much money, then why do we have the same executives in place. You cannot blame the stores for a changing industry. However, you can blame the senior leadership for the lack of a good growth strategy. Let’s talk about some of these “great decisions”. There is our private line Fall Rush - Cluster…there is FOD - Cluster…there is Valor - Cluster…there is Follett ACCESS - Cluster…Book Fairs - Cluster… purchase of BT - Cluster…OMS Routing - Cluster…SODA - Cluster…Using a temp agency - Cluster. How about stop wasting money on our quality VPs and start putting it into systems that help us bring in revenue.

When the family is gone, you all will miss us as the grass is not greener on the other side! You can take that to the same bank I have my “billions”.

Oh, I understand margin perfectly well. My margins are ok (can't get best selling merch when we're on credit hold). My hours are long. My staff is thin. Still, no profits. Hmmmm....

Follett didn't have to offer any increase. A massive hemorrhage to our business for nearly two years and they still GAVE you more money for sh-t (disappointing?) sales, banking bonuses haven't gone away and giving rush pay increases.

The Family are Saints. Taking a 100 Million Dollar loss a year. Seeing that they are multi Billionaires they hemorrhaging money to take care of us! Giving us money! Remember to kiss their rings!

Then you don't understand profit margin. $2 vendor increase equals minimum $4 retail increase. Look at your PO's and you'll see costs have went up on everything. Supply low, demand high, prices go up. Economics

We were told there was a yarn shortage in the summer. Compound that with cargo ship bottlenecks and you get inflation. .

Follett didn't have to offer any increase. A massive hemorrhage to our business for nearly two years and they still gave you more money for sh-t sales, banking bonuses haven't gone away and giving rush pay increases.

"...profit equals funds for growth"

• $100M/year loss does not a profit make. I suppose part time cashiers, underpaid full time SM have caused the loss?

follett is a stinking corpse that just won't fall.

Lost a $100 million a year for two years?
Really?
What is the source of that number?

FHE lost $100M in each of the last two years. Bleeding money. Everyone on this site who believes there is some sort of magic ATM generating profits and dividends for the family are delusional. This is a train wreck that can’t pay its own way. FSS generated the income to cover FHE for the last seven years. Now they’re gone and money has to come from profitable retail online and brick-and-mortar ops. The feasibility of that is suspect at best. Your mug is called margin. Margin equals profit equals funds for growth.