More stores will be closing and layoffs coming according to the WSJ. Get out while you can.
16 replies (most recent on top)
It's no secret they have already been going after GMs and AMs for years now.
I think the focus will scale down to higher paid full time employees like the IS position. They have been trying to find a way to cut the IS to part time for years now, but because of the workload it is only feasible in lower volume stores. Many of the longer terms IS's were once "receiving managers", and they hung on to the position because it was FT and paid well, even though they may have been wage capped. However, now that ISs are expected to MoD and do so much more, many of them are disgruntled that no matter how much more responsibility they take on, they can never get a raise.
My gut feeling is Staples will look to shed some of the disgruntled long term and high wage ISs by having DMs pressure GMs to force them out and train new people at far lower wages and benefits.
Same goes for some Tech Sups, but that position is usually turned over quickly so there are far fewer capped Tech Sups than ISs. The Ops sup position should be fairly safe as they already save about $20k a year per store after replacing Ops Managers with lower paid sups. CPC sups should also be OK, provided their CPC is profitable.
Yes. I can easily see them coming after people, especially in stores slated for closure, to avoid paying severance and UI. If your store is not doing well enough to remain open, it is "obviously" a performance issue, thus the PIP.
But they will also go after anyone making over a certain amount. GMs over $60-65k and AMs over $50k. They are desperate enough to start looking at long term employees. So you IS/IAs out there making > $15, with 4 weeks of vacation, your days of complaining about being capped are almost over. Because now they will justify firing you and replacing you with someone around $10.
Crap is really going to hit the fan in late Sept and into Oct.
Every one get ready the PIPs are coming
After this weeks horrendous news everyone knew the stock would fall to near 52 week lows. That's not news. What is news is that it stays so high. No one really thinks there is a turnaround story here or OD either for that matter. The only way this stock Price remains above $5.00 is that they are buying it back, and they are also running out of buy back money. Short this dog cause it's got fleas.
We’re moving from a product focus to a customer focus,” Interim Chief Executive Shira Goodman said on.... That's the problem right there. What it says to me is regardless of the sh-- products the have they can get customers though the lies that are called marketing and special deals. Just give us your phone number and e mail address and we will hound you until you by something. I think in the end it's price first, quality second. So the first and second most important things to people , product related, will come second to making people by stuff thought marketing strategies designed to get you to by things. Also, if the goal is to compete online, maybe the focus should be on fixing our on line presence, our woeful print site, and our internal systems which would truly help the customer not stupid pitches and schemes. I can only think the Staples hierarchy has developed such a back stabbing fearful environment no one has the balls to say things how they really are or to guide with a true vision. You can already see the new president is just a fall in line do the same things but pretend they are different by using new names or different wording. I am old, when I was young I knew the V.P. Of a very successful company. He once told me they succeeded because of two things, " we were good to our employees and our vendors". What the hell is staples mission and are the working towards that or just fearful scared people just looking for the biggest pay check.
yes, they sheet on anyone that actually to do a good job, that's why it's all Indians now!
they can sheet on them over and over again, and all they can do is bobble their heads, lie about project status and so it goes until the carnival tent catches fire.
"We’re moving from a product focus to a customer focus,” Interim Chief Executive Shira Goodman said on a conference call with analysts Wednesday. “We’re moving from a retail culture to a delivery culture.”"
She's an idiot! They forced or PIPed ANYONE who cared about the customer, whether retail or B2B! From the B2B side, they pulled everything from the AM's...sorry SAL's and shoved to customer service. Not to mention, SELL, SELL, SELL lines of business. They got rid of every driver who had a relationship with the customer and sent if off to third party. She's living in a fantasy world if changing that will make a difference.
yeah, going to a delivery model?
first delivery will be a batch of layoff notices
followed by a,batch of layoff notices.
ha!
“We’re moving from a retail culture to a delivery culture.”
That's good Shira, now show us you are serious and get rid of some of those overpaid RVPs.
Especially the one in region 1. RVPs is the only field management position that has not been affected by restructuring, yet. Consolidating regions and getting rid of some of these guys will free up a lot of payroll, stock options, bonuses and vacation time.
We’re moving from a product focus to a customer focus,” Interim Chief Executive Shira Goodman said on a conference call with analysts Wednesday. “We’re moving from a retail culture to a delivery culture.”
Poor Shira. She's still in denial of what is happening to this company and why it has happened. There's no turning this around now. To many mistakes have been made and continue to be made every single day. Do you think with management like Vinnie's you'd have a successful company in your hands? Too much time has passed and too much has been allowed. It's too late now.
From what I hear there are huge cuts set for Oct. Hopefully Vinnie and Otis get let go.
This company is a joke. Time for more layoffs at Framingham and cut the # of RVPs and DMs by 1/3rd.
Hope no one was expecting a bonus for FY 2016, they are pretty much a thing of the past, except for the execs, they'll always find a way to get theirs in.
so Staples is still losing $400 million post Office Depot debacle?
that's bad karma.
hahahaha
Do you have a list with 16 stores that closed?
@lla so true, claw back money from sargent
16 stores so far this year, another 50+ to close after BTS.
$250m of the loss was payment to OD. $90m was financing fees.
All this loss, yet still paying Sargent up to $14 million to go away. He should be paying compensation to Staples for all the damage he caused.