30% of the company is being laid off.
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Hopefully they fired the ones who deserved it. What an absolutely despicable place to work!
All folks let go are going their full 2016 bonus payout in March with extended severance. I work in boca office.
They laid off people in ecommerce who work on the business site and on mobile, the ONLY 2 channels showing positive revenue growth. If you intend to succeed, you INVEST in the areas that are growing not DIVEST. They are trimming to improve the balance sheet and try again to merge w Staples under the new Trump administration.
Many of those laid off in this round were long-time employees (20+ years and others with big salaries). You don't lay off the people with institutional knowledge if you want to grow. Note: these layoffs are just before bonuses were due to be paid out. Another source of cost savings!
I upgrade ODP to a buy!!
Confirmed layoffs in boca. 200 people
Yes hundreds laid off since this morning in the Boca Raton location, they just kept calling people into conference room and laying them off.
A lot of people got fired today. I work there
confirmed. hundreds laid off
This is only if the proposal to close all Max stores is approved. The current cost analysis shows the company will never be able to afford changing all the stores over to the name Office Depot. The talk of closing all Max stores was floated around during the Staples merger talks. There is a major chain of the "Party" variety that has interest in sub leasing many of the existing Max stores. Or portions there of. In areas where possible we may sublease up to 14,000 sq ft and run on a smaller 10,000 sq ft Depot concept in the existing Max space. No furniture, some chairs, limited printers, no tech center, only self serve copies and faxing, and only the top selling office supplies, but full ink and toner pogs in the small concept.
Basically some of these Max stores are 26,000 sq ft and paying $36,000 a month in rent. Even the ones on month to month leases.