Over 200 layoffs per region. Global office layoffs and restructure next. Consultants such as Accenture and McKinsey advising on restructuring. WF same store sales down and cutting payroll to hit earnings and keep Wall Street from a hostile takeover. Some corporate big shots taking vacations this week in the Mediterranean. No compensation cuts to top execs yet.
Still buying WF anti-union party line?
Sept du sem du jour-
I've been with the company in the South for a very long time. I don't know if I know you but I sure hope I do. Thank you for your intelligent and well spoken insight.
goldman will be happy.any of these "bain capital" type of labor restructurings are good for the stock and bottom line..trust me its a short term bounce to help earnings and long term wallmart type of move on the labor cost...have you noticed how much they have dumbed down the teamleader and astl positions(bringing in outsiders who are lackeys)recently?
Goldman is not going to be happy
I like your post. I have a feeling that your 200 number per region is low though.
they have been playing a game with budget cuts and hiding the peanut under the shell with earnings for some time now..if you have noticed every october with the new fiscal years since the economy tanked back in bush years they have cut or re-structured things to make it seem more lucrative and streamlined for the wall street guys.google who owns wfm stock for a good laugh at how much is owned by hedge funds..more than 50% mackey owns less than a million shares compared to goldman sachs 18 million shares...lol