Thread regarding Neiman Marcus Group layoffs

Renaissance Bonus

Pay out is December 31st. I wonder how many people will exit after that day?

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Post ID: @OP+1ercxN6D

10 replies (most recent on top)

Karen’s fault? PE’s fault? How about the third leg of the stool - GVR! He was CEO for three years before the company went under. Larger companies - and countries really - move faster than he did. How many Digital/Technology leaders have we had since GVR joined? Five before Bob? Yay Bob!

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Post ID: @gupy+1ercxN6D

PE firms makes their own assessments regardless of whatever the CEO says. They got this one wrong

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Post ID: @gard+1ercxN6D

Karen flew around the country (on a private jet) selling her vision of NM’s future under her reign to private equity investment companies. They bought in based on her assurances of growth and profits. Ultimately she failed to achieve her promises to them resulting in bankruptcy due to the weight of debt and poor performance.

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Post ID: @gjpt+1ercxN6D

Bash Karen - and GVR - all you want but the bankruptcy was caused by the sale of the company. And no CEO controlled that. Private Equity did.

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Post ID: @gqur+1ercxN6D

From micro manager to me centered. When will the board get it right and find the right CEO?

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Post ID: @gdui+1ercxN6D

Much better then the old Jim and Karen days when they micro managed NM into bankruptcy.

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Post ID: @fmjb+1ercxN6D

I don’t plan to leave anytime soon. It’s true - I am a mercenary. Not proud but the way we work now makes interacting with the most senior leaders tolerable.I don’t trust or respect them but I hardly see them. They like it that way and so do I.

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Post ID: @frjc+1ercxN6D

Money is being used to retain us.The culture - despite the cozy WWD relationship for positive press and the endless positioning - is terrible. We’re all mercenaries. Just like our leader.

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Post ID: @5lca+1ercxN6D

Multitude of reasons... There is a reason they are consistently fighting lawsuits by employees.. never mind customers who are filing another class action lawsuit..

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Post ID: @3hgy+1ercxN6D

There’s more where that came from. Why leave?

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Post ID: @1ihe+1ercxN6D

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