So, anybody thinking what I am thinking? Huge sales drop that is followed by a huge drop in share prices is not good news for the company, but it's even worse news for us. We've seen the thinking of Bed Bath and Beyond leadership in the past months: instead of figuring out what's truly wrong with the company and finding a solution for it, they lay off people for a quick bump in profits. I am scared that same kind of thinking will reemerge in the wake of the latest bad results. I wish I was wrong, but it's highly unlikely. Brace for impact, my friends.
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They weren't going to rehire anyone they laid off in 6 months, and the only reason they gave 6 months, was to see if anyone was going to file a EEOC charge against them, that is the allotted time to file.
Because of the foolishness that they pulled as a company. Laying off a large group of people with no warning, The WARN ACT.
Yeah, to the "reapply in 6 months", but at the rate their going who you gonna be handed your application to?
It says in our severance paperwork we can reapply after 6 months. I say we all go reapply after 6 months to see the looks on their faces.
There is absolutely no hope for them to come anywhere close to the halcyon days of being called a growth stock. They refuse to stop opening new stores at a time when they are losing the battle with the Amazon juggernaut. The only hope is to go private with, at a minimum, massive management layoffs, not to mention the closing of 100s of stores. They are doomed. They will survive in some form, but don't believe any talk of better days ahead.
I am with you.
I am super concerned.
The numbers are not good, they have to react.
it would be naive to think anything else...