Confirmed from a reliable source. Approximately 2,500 job cuts coming by end of Q1.
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Get rid of Hans and close all corporate stores. Indirect locations can take care of aging customers that still want to go to a store and the company will save a ton of money with very little overhead to sell solely through indirect
Is this in VGS? Sounds low.
Feb 2 seemed like the most likely date for a few reasons: 1) I've seen some management actions have been pushed out 1-2 weeks which includes that date, hence explaining the delay in decisions 2) it's before the comm plans come out which include BPI that I suspect they don't want to give to those that are about to be layoff. However, I thought the WARN law required 60 day notice which would move it to Jan 30 in order for that to be the last day to be employed in the calendar month before Q1 ends. Waiting until Feb 2 or even Feb 16 wouldn't help Q1 results right?
A lot more than that coming