The lay-offs in Oct 2015 was said to pave way for lower prices and an investment in technology so that we can become more competitive. At that time, WFM also committed on reducing operating costs by $300m and a comittment to investors of 1200 stores. Just what has happened since then? Let me say that since that Black Monday (when the announcement of the lay-offs were made) this company has not 'comped' for 7 quarters. This management has thrown a 'Lifeline' in the 365 stores thinking that it's going to rescue their Titanic. There has been some advancement in technology whilst the pricing structure 'seems' unchanged. So much so, WFM has lost approximately 14 million transactions to the competition of late. WFM has even abandoned the 1200 store count. Not only have they have bought back over a $1b worth of stocks WFM has also borrowed half/billion on revolving credit (at what rate?). NOT FORGETTING they need to reduce operating costs by a further $300m by 2020 (although $270m has been realized from the last $300m). All that TV ads, mailing lists, loyalty cards (which is outdated) is too late in the game. Also, they have invested thousands in hiring consultants to implement programs like SOP and more. Folks WFM is desperate. In fact, facing the worst era in its 37 year history. One analyst has already projected that we will operate at a loss within the next two years (should the situation is unchanged). This desperation has now led WFM facing down the barrel of Jana Partners who will unilaterally change the board in Feb 2018 (if necessary). Just what does this mean for WFM? It is against this backdrop, I believe that there will be massive restructuring and layoffs in the new financial year starting Oct 2017. If anyone else had other thoughts, I would like read it!
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ive worked for these guys 12+ years..if they offered me severance I would take it and run..i heard though that they don't want to do massive severances anymore because the first round cost them millions..
I don't know about layoffs. I think SOP will be the edge that trims the higher paid people like myself. It's already the only obsession at my store. More so than sales strategies or guest service. No TM appreciations, no labor bonuses for over a year now. SOP is all they care about. OOS obsession.
I believe the current atmosphere alone will squeeze more folks out.
It was just a grocery store job not too long ago. Now it's focus is on unrealistic expectations.
Why not see if long-time tms want severance pay?
even though mackey is a tried and true liberatarian who likes the idea of gainsharing{remember the video they made us watch where he gloats about it} as a tool to make junior capitalists out of all the minions and hopefully to prevent union activity;i think a.c. gallo and board have always kind of eyed this pool of money as something to loot....i can see them chucking the gainsharing in favor of some other benefit which will still benefit the bottom line-raising the tm discount to 30% across the board..still below our mark up and the only way this benefit is actualized by team members is to spend money at the register..robbing peter to pay wall(street)...
Well-said! You've laid the facts out very clearly.
Good and thoughtful post. I agree with everything
Tl pay scale.....astls....regional ast coordinators....buyers.....beware...and shoes for crews...
it's a grocery store, who cares. side note: wow that was almost 2 years ago. funny how people come on here every quarter promising "more lay-offs are coming!!!"