As of Aug 2017 Petco has decided and is in the process of outsourcing a major part of their business operations to an outsourcing company. Based on this, significant layoffs are expected to happen both in San Antonio and San Diego offices. The operation jobs are presumably being moved "offshore" (to India) and is expected to impact business or non-IT folks.
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Company is paying the price for under investment in key areas, including online, in the past. Former owners, TPG, used the company as their piggybank, taking "special dividends" and leveraging up the company which could have put it in real jeopardy. If anyone wants to be upset, think about the $80M that the former CEO, Myers, walked away with in just the last sale of the company.
140 people cut effective January 18, including the 55 from Doctor's Foster and Smith. Major organizational changes with adjusting teams and leadership roles. Email from CEO said remaining staff need to less with more.
Dr. Fosters and Smith was a casualty. Heard about 55 people were affected. Not clear if there have been any other sites affected as of yet. Rumor was this week, maybe next week for the final rounds and then offshore would also be evaluated as well. VPs have been let go, or swapped around in some cases. Not clear what groups are affected, but it appears to be a wide net at this point.
The layoffs are continuing thru January. Folks at the NSC, SSC and Drs. Foster & Smith. More than 60 being let go. The Canadian investment firm is ruining Petco.
IT is affected, various parts at least. This is what you get when you have a investment company running the show. This isn't wall street. The Canadian company wants better profits, at all costs. I know VP and Managers are affected. Some of the Directors are being swapped around. I hope the bean counters are looking at this, you cannot continue to so this to the company. It will become a wasteland that nobody wants to work for. Mark my words, people will eventually figure it out and stop shopping at Petco. Indians aren't buying your products, Americans are and if you lay them off, they will shop elsewhere.
The layoffs have begun. They started with upper level employees, now they have moved onto director level and I hear that lower level employees will be hit after Christmas. So disappointing. No family values here. I understand it's about the numbers for the owners, but what about the people and their families/livelihood. Nice going Petco.