Gazuntite!
8 replies (most recent on top)
Keep cutting. Eventually you end up with.....nothing.
RG won't let that happen. Keeping cutting expenses to match the annual revenue decline.
I have been wondering about this for some time. Normally a company will lay off the worst performing employees. Follett has been systematically Purging long term employees. That makes no sense if you are trying to grow the company. It makes a lot of sense if you know the company is crashing and you want to slow the fall.
Is there anywhere that someone can get a copy of the financial statements? Just wondering how close they are. Does anyone know what the cash burn rate is or what last years EBITDA was?
Follett is not bankrupt nor are they filing for it.
Just remember, before this ship goes down they will continue to layoff more and more employees. Match revenue and expenses so the family will get a dividend until the end.
Nebraska Book Company.
Well, by making us "One Follett" if one division goes down we all go down. It is going to make it hard to salvage the profitable pieces. Some of the individual companies were making money before all this nonsense started. Now I am having trouble seeing a path out of this mess.