Thread regarding Wolverine World Wide Inc. layoffs

Over 200 layoffs today.

Very sad day...

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Post ID: @OP+NZA7NrZ

7 replies (most recent on top)

So sad saw this coming years ago. WWW had so much favoritism going on, no concern for sick or injured good employees. Cut cost and produced poor quality products to servicemen white supervision turned the eyes and encouraged the poor quality.encouraged the poor quality. Not surprised the leaders sunk the ship.

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Post ID: @1srh+NZA7NrZ

This honestly can not surprise any of you, the way people were treated if you were not part of the inner circle, yelling and belittling employees, the high school drama constantly going on supervisors talking behind the back of some employees to others creating one of the most toxic working environments I have ever worked in. I for one think that if they would have brought in good management and got rid of those that were only in those positions because they would do as they were told and keep their mouths shut regardless of quality of work to be sure to get the quantity needed to make the numbers the plant would still be doing well.

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Post ID: @zrj+NZA7NrZ

The more money is saved by deep cuts, the more for them to distribute to themselves. It's so simple, almost elegant.

At the very top, all execs need is a couple of years of fat salaries and balloon bonuses.... And then, they are sent, they children are set, and children of their children are set for life.

I am OK when a founder does this, but when bureaucrats and corporate types climb the ladder just to graft the corp, I have a problem with that. And our economy suffers as characters like this contribute nothing to growth, capital, improvements. They burden the economy and slow growth.

You can literally plug in anyone into one of the C-roles and the person would manage not to get fired for 24 months as the system that supports it is relatively well oiled to keep running for VERY long time.

I guarantee you that if we were to cut their total comp to 400K each you'd still have armies of people lining up to take the role as it brings power and prestige.

I personally think that it's just a matter of time when one of large enterprises tries something like this and knocks it out of the park (the'd save a ton of money, improve the bottom line, send the stock soaring, etc.) We'll see, I still do have quite a bit of hope in Capitalism's ability to repair itself. And it so desperately needs a major repair job...

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Post ID: @wwm+NZA7NrZ

If you think any employee is an asset, you need to take a look at which column in the balance sheet payroll is under. The basic balance sheet equation is Assets-Liabilities=Equity. Here is a hint. Payroll is not under Assets or Equity.

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Post ID: @too+NZA7NrZ

What groups were affected and what levels?

Everyone? Rockford?

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Post ID: @uzl+NZA7NrZ

This is true. On top of this, I do not get a feeling that this is it and many of us expect another wave to hit in Q3

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Post ID: @heg+NZA7NrZ

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