ha ha If this the best they can do, everyone better start swimming because this ship is sinking.
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The drama and blaming/finger-pointing along with the use of extremes like "souless" and "zombie apocalypse" is laughable! Good grief. The company is doing what it can to take stock, correct mistakes and move ahead to benefit everyone involved. Sometimes cuts are necessary, this is typical in corporate America. Let's be real and stop taking everything personally and discontinue making the leadership out to be monsters. Please, give it a break.
The problem is that corp breaks everything it touches. FSC used to be cutting edge, but corp doesn't understand software so instead of investing in new products we just create free stuff to support ebooks. There is no next generation product in the works. You can't keep selling the old stuff forever.
I've still got my soul but the company and leadership are soulless. It's like the zombie apocalypse has taken over.
The problem is the acquisitions are related to the same company core that is declining. God help us if our hope is Woody's, or did you mean Classbook. Lets not forget Woody's built SKYO. Millions invested for a basic ecommerce site.
Ladies and Gentlemen, let's just lay one hypothesis out there for your consideration. Follett is draining cash reserves now to acquire a series of "profitable and complimentary" businesses at historically low borrowing rates. Sure, some of this stuff could have been picked up a few years prior at a fraction of the cost, like Woody's. But that's inconsequential to the overwhelming need for the company to try to gain sufficient time to get these new businesses integrated and balance out the workforce equation. Once that occurs, it can more rapidly scale back on its traditional core--but no longer cash cow--businesses, reduce related overhead and headcount, and then eventually--once the new acquisitions are humming along and growing to meet the forecast rate of ROI--shut down or sell for scrap the businesses that were once Follett's bread and butter for many, many decades prior to 2005. The company obviously recognizes that it made some critical errors over the past 10 years and can no longer recover/restore the flagship brand that was not so long ago the family badge of honor. Now, to preserve the next generation's dividend, they need to act decisively and roll the dice that this semi-baked plan will work (why is DG still around? because he's pushing some of these Hail Mary buys--even as Neebo flounders... so yeah, again, he's still around why?). In the "Sears Drone" culture Follett has become, to keep from creating an exodus from the "talent ranks" in Westchester and the Field, leaders must be incentivized to stay. These agreements will have nothing to do with any type of bonus, but instead be payable in the near-term with cash or immediate vesting, and will increase as people stay on (the loyal soldiers). But based on the haphazard way Follett is presently navigating--without any clear vision and somewhat out of fear--I would say the plan right now has only a 50/50 chance of success--and I think that is being generous.
So there are the odds for those of you contemplating your own future and/or how much you can stomach. Pick up your own pair of dice and roll. May you beat the house advantage and prosper on your own terms. Hint: you may need to go deep within yourself, find your soul, and risk what will reward you later.
The feds wouldn't touch this. Anti-trust is as much a joke as workers rights. Get real.
Regarding layoffs, it is quite amazing how accurate this site has been over the years. Even with company information.
Noone is interested except for B&N and the feds wouldn't allow it on antitrust grounds.
To the highest bidder
Selling to whom?