This post will get the troll stamp because HO doesn't like to lose the element of surprise. But honestly who's surprised anymore? We're all numb to this and the hype from RG and team sounds like hyperbole to the initiated and well-informed. Best advice is to plan for the inevitable.
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Just remember the Obama raise as I am calling it goes into affect as of Dec 1, 2016. In case you have had your head under the sand so to speak this is the new salary requirement as put forth by the dept of labor that says in order to be considered exempt from OT you have to make like $47650 a year. Obviously the big restructuring a few months back was in preparation for this. By moving people to hourly they can limit those people hours to 40 and pay less than the minimum salary but to those they keep as salary they can give many a paltry raise to get just to the minimum and then work them to the bone. Mark my words there will be no raises again in FY18 for anyone affected by this increase in a few months.
thinking not until mid-sept but could be any day now. they like to strike when people aren't expecting it. too many layoffs in the past few years make the cycle impossible to predict but never a surprise since everyone just expects it now. And they wonder why nobody's engaged and wanting to do anymore than the bare minimum. Good luck all you VPs and higher. Soon you'll be running it into the ground all by yourselves!
does anyone know when these layoffs are to happen? i heard sept. but does that mean start or end of the month?
Truth spoken here and I'm mentally prepared to be layed off. Go ahead Follett. I'm ready.
To the idiot that stated they only get rid of the lazy people, REALLY!
Look around there are Many Lazy employees still working at Follett while Many hard workers were let go.. What exactly does KG do all day, but hide out at Corp. Look outside at who is smoking most of the day. I can list 20 people that are full time employees that work less than 40 hours a week.
Seriously, they only get rid of the lazy comment is a joke!!
I hope today is my last Friday working for Follett. I may just walk out because its really that bad. Everything I read on here makes me think that life would only be better somewhere else. This company used to be good but now past the point of no return and that truth makes me very very sad.
Actually, they are getting rid of long term employees.
They're gonna get rid of more lazy people just like they did last time. If you are not lazy, you ain't got anything to worry about.
FSS is in the worst position of all. We are about to be assimilated into the much larger B&T organization. Someone made a comment that one of the reasons we bought B&T was because of their people talent.
To the very articulate and apparently very intelligent individual, thanks for posting two of the stand out best posts ever on this board. The truth is a bitter pill sometimes.
Don't forget all off the 99 cent notebooks we sell!
Ummmm... I work 60 hours a week and I'm at FSS... I also understand rudimentary financial calculations
Not only working 11+ hour days but also being treated like we are scum of the earth by the company. It is made very clear that the company equates anyone in the field less than a RM as being stupid.
Well it was meant as a metaphor not a realistic statement, but as for my point regarding the bonuses obviously you don't understand P&L's. Now since you probably work in the FSS division I will give you a pass. Let me break it down like a 1st grader for you.
Below is a very simple explanation:
FY16 Follett spends $10 million in the 1st quarter. Bonuses and first paychecks with raises for FY15 included and Follett only brings in $5 million that quarter. Net loss $5 million.
FY17 Follett spends $7 million in the first quarter, reduction comes from less operating costs (ie no bonuses paid out). Follett only brings in $5 million that quarter. Net loss $2 million
OMG!!!! We are doing $3 million better than last year let's celebrate. It's all accounting smoke and mirrors. Just like RG said Follett was profitable in FY16 just not as much as it needed to be yet according to my FY16 bonus statement we lost $50 million. Again an accounting trick it's very simple you take money that normally would be profit and you slide it over to the expense line which had some huge M&A expenses (mergers and acquisitions) for FY16 this "expense" is used to justify paying less taxes on your earnings and also allows you to say the company made no money so no bonuses for all the hard working managers out in the field.
Tell me something do FSS people work 9-5 like Westbrook folks or do they work 11 hours days like those of us in the field?
One account away? That's moronic. FSS has over 100,000 customers and most of its revenue is on an annual renewal basis. You obviously don't know what you are talking about.
And, related to the bonuses. The variance has nothing to do with the added profit. FSS is the reason we are ahead right now.
Well I've been silent for awhile so time to come out of my throne room. FHEG while not profitable yet brings in major cash flow into this company. With new stores opened 19 in July alone this will continue and as contracts expire they may not get renewed without serious rewrites and considerations to Follett on the new version. FSS while profitable is just one major account away from going down the perverbial toilet. Baker and Taylor was a decent move but only so long as people actual use public libraries, as the world goes more digital those archaic monuments to a literary past will slowly fade away until they look like the buildings in the Planet of The Apes movies.
Now for my last point thank you RG for the bullshit update but please don't remind your minions that our consolidated net loss was $3.4 million better than FY16 when everyone knows that that's only because there were very few bonuses paid out in June and no raises issues that would have taken affect in July. So saying this reduction in loss is due to reductions in operating expenses is a slap in the face of everyone working throughout Follett.
unless you know something that no one else has posted on this board then yes i know i am safe. fss is profitable and all of the layoff discussions on this board have been about stores. fhegs profits are in the sh--ter and they have stores. it would not make any business sense to lay people off in a division that is profitable.
Last post is funny. You think you are safe because Nader says so? And because FSS is profitable? Think again. No one is safe. You actually believe you are safe?
ya, fss is safe. all of the posts on here about layoffs are talking about stores. fss doesn't have stores. fheg does. fss is also profitable. so says nader in some of his recent posts as well as the scorecard.
you think fss is safe? wishful thinking but not reality. no group is safe other than the family. let the next month tell the tale
Hopefully getting rid of all the worthless vp positions, rvps, need rm to help stores
at least fss won't get hit...
Maybe that Pokemon hunting RM from Virginia will get it next
No toll here. Hearing the same info, right after rush major consolidations. What the hiring freeze didn't take care of, HR will. Most open positions that have been unfilled will be eliminated. Director and manager positions at stake. Regional mgrs will be realigned to reduce head count.