I work in Human Resources (anonymous, sorry) and want to share the future plans because there's no point in hiding it.
The company is planning to sell to a private equity firm in December - most management positions will be eliminated. Sorry again.
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our store just hired 5 new part timers....the full timers will be the next ones booted out.
I was one of the department managers let go. My area has no room for growth. We have had one assistant replaced in like the last ten years. Not opening any stores in the area also. Some of those I know that got let go run circles around their assistants or store managers.
The people who were valuable got to stay or move up. If you're mediocre you were let go. Out of 3 dept managers 2 were kept in my building. One moved up and the other is a CS gem. No body owes anyone anything. Mediocrity doesn't make money. And it doesn't guarantee you a job in any company.
Interesting - that's two people with inside knowledge claiming BBB will be sold to a PE firm. The article seems to confirm something was possible in the works 2 years ago.
Not looking good
The PE article is from 2015... why is this even related????
As a former SM, I saw the writing on the wall and left last year. The company has been, albeit discreetly targeting long-term middle management employees and removing them under the illusion of underperformance. I was told by my DM that two of my ASMs were overpaid and that I needed to put them on a PIP to get rid of them. This company has zero ethics and I knew I needed to leave before I was next. Things will only get worse. Regional and district teams need downsizing bad!
Ohhh, yeahhhh...the DM's all knew that the massive firings were coming down the pike. Our DM quit several months ago as well. I have some great "friends" inside HR at corporate. All signs point to even more axe-wielding and a private-equity buyer in the wings waiting to make his move. And after the buyout takes place, I was told that the axe will be dropping even faster to quickly consolidate and shore-up the money-bleeding that is happening. Possibly even massive store closings or a complete dissolution of BBBY, similar to what happened to CWC a few years back.
I guess now we know why a DHRM in CT and a DM in NJ quit a few months ago - they saw it coming
https://www.thestreet.com/video/13168497/pe-firms-stake-in-bed-bath-beyond-may-spur-board-into-talks.html
I think it's funny if you actually believe the "hard workers" and the tenured managers are being let go! Bed Bath & Beyond has been operating with an archaic management structure that should've went away 10-15yrs ago. Managers getting overpaid upfront and never wanting to actually earn their pay when the time came! It's about time that they are trying to right size the company like Home Depot, Walmart, Target and Lowes. I agree, if you work for HR you should be fired!
They are still hiring , then why are the hard workers with years in the company being let go? why most of them older with tenure being let go? so not fair
If you do work in HR you should be fired!
They are still hiring , then why are they the hard workers with years in the company being let go? why most of them when tenure and older being let go? so not fair