"In one deal signed in 2011 under Quinn, Follett Corp. and divisions or subsidiaries in Oak Brook and Westmont were awarded $1.1 million in tax credits despite eliminating 122 jobs. Follett, ..., began with 804 employees but reported a drop to 682 workers in a 2014 status report... That was fine with Illinois officials because the state agreement requires Follett to keep only 579 employees."
Chicago Tribune 10-4-15
Start counting, they still have 100 more to go.
Imagine our financial results without those 10 million in tax credits. Those are a direct + to the bottom line.
Wonder if anyone got the Follett Values ethics card nomination?
I think you meant, First taking advantage of students, NOW Illinois tax payers in general. Ethics!!!!
Just to make it clear- management stole from those of you in Chicagoloand on this one. They took your tax money (thanks to wage and hour cuts Follett employees contributed less to the taxes stolen than they would have a few years earlier). Please consider what your politicians are doing, too. They're encouraging management to fire you and create a new, lower paying job. If they dump your full time salary and benefits, and hire two part time, non-benefit earning staff, they've created a job. You pay your taxes so shareholders can put money in their foreign bank accounts.
First taking advantage of students, not tax payers in general.
And Quinn wonders why he wasn't reelected? Tax breaks for the rich Folletts but raise the working poor peoples taxes. Nice.
I went into a Sears the other day. It was just like the bookstore; so empty and devoid of both associated and customers. Success! They've transplanted their model over completely! When can we take the last step and call ourselves Ksearmax?
Nice to know Follett can manipulate the system with the best of them (or worst of them). They knew they would CUT jobs when they got the credit. No incentive to actually create any new jobs. Wait, they did save those Sears and KMart people AND created a lot of new job titles! Does that count?
682-579=103.......
Nice company you work for. "Follett fulfilled its obligation under the program and applied the EDGE credits the company was eligible to receive," a company spokesman said in a statement. Who is the genius making that statement. Follett should be proud, singled out in an Tribune investigation about companies taking advantage of state tax breaks. I think we all know that Follett would never move out of state. Simply a negotiation strategy. All employees should act this same way.
http://www.chicagotribune.com/news/watchdog/ct-illinois-corporate-tax-breaks-met-20151002-story.html