why did kmart and sears eliminate workers that made the company work? I really wish I knew
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@jpr, I just retired and applied for benefits. Just got a confirmation letter stating I would get first check on 3/1. I can let you know if that happens. The whole process was quick and easy
Well stated ffq. This also applies to inventory and capital investment in the stores. There's a certain amount of personnel, inventory, and maintenance necessary just to keep the stores operating. Every time this screwed up company has bad financial results they resort to more inventory and personnel cuts, even though the "fat" was trimmed long ago. Sears has had some out of touch CEO's in the past, but Lampert is definitely the worst ever.
I took a tour through a nearby Kmart yesterday. Every department in the store is now self service, including appliances. There was a sign on a refrigerator box telling people to go to the "customer service kiosk" if they want to buy something. No indication of where this kiosk is located. I guess the customers can get in the one open line at the front and wait while the cashier tries to get SYWR and credit applications. The shelves were half empty throughout the store, and large areas had no merchandise at all. Christmas displays were still up in late January.
It's a sad way to run a business. It will be over soon for this Kmart in particular when the new Walmart opens a block away. And the rest of SHC will be not be far behind.
Better question is,
Is there anyone on this board who has applied for pension benefits that were earned , what is the status, and how long has it taken to collect your first check?
How dare you insult a buffoon like that.
Because when you are incompetent and can't grow the top line/revenue, the only thing you have left is to look at the cost structure. And labor is the single biggest component of cost. If you're trying to be more profitable, you have to cut costs. And in many cases that's the right thing to do as an organization learns how to be more efficient, how to do the same work with fewer people results in higher profits. But when your leader is a buffoon, he can't differentiate between "Cost" and what is required to actually run a business. Lampert is beyond bad as a a business manager, he will be famous for a long time after this as the worst of the worst.
I would think that reporting a loss is a write off.
seems so. but it's such upside down thinking to me
They are not interested in how the stores run, they're gutting the company.