Thread regarding Staples Inc. layoffs

150 + people just got let go

Staples just let go of over 150 sales people across the midwest and east coast. They said they "eliminated the position". People recieved 4 weeks of severence. They have been saying that there would not be layoffs because of the buyout with sycamore but they definitely decided to make a lot of cuts.

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Post ID: @OP+PrGRtQY

29 replies (most recent on top)

After the last round of print AE's and PMACS being let go, wouldn't be surprised if outside print sales is iold to Taylor Corp.

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Post ID: @1exfh+PrGRtQY

They elimited my position a year ago.. Technology & Mobile Sales & Service Supervisor.. that's always what they say.

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Post ID: @3chf+PrGRtQY

so Sycamore bought Staples to gain "B2B expertise" but the CTO has none?

how strange.

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Post ID: @3rdz+PrGRtQY

FM has worked for Groupon, eBay, and Amazon. How is he a B2B guy? He literally has zero B2B experience.

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Post ID: @3wrt+PrGRtQY

Nobody i know has a pension from staples.

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Post ID: @2tou+PrGRtQY

don' worry, there's plenty more cuts coming. the best part is when they spin off the pensions into a 3rd company designed to go under.

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Post ID: @2zir+PrGRtQY

Those cuts were planned long before Sycamore. If you'd have been paying attention, you would have known that.

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Post ID: @2fgf+PrGRtQY

still floating the fantasy that Sycamore is "building a B2B company"?

FM is already in his lifeboat. so if the B2B "expertise" is abandoning ship, what's wrong with this story?

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Post ID: @2jsj+PrGRtQY

"Sycamore has been very upfront about lacking expertise in B2B. This was not their decision"

And Staples lacks expertise running Staples, which is why they were bought out by someone more capable of squeezing some worth out of the whole thing.

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Post ID: @2wyq+PrGRtQY

Sycamore has been very upfront about lacking expertise in B2B. This was not their decision

So, like, is Sycamore actually in charge then or not?

hahahaha.

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Post ID: @2vby+PrGRtQY

hahaha.

the denial is large here.

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Post ID: @2ldd+PrGRtQY

The layoffs that occurred have nothing to do with Sycamore. They had been planned way in advance of the deal closing. Sycamore has been very upfront about lacking expertise in B2B. This was not their decision. But by all means... Keep fantasizing about the company being ripped apart and placed on the scrap heap.

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Post ID: @2aie+PrGRtQY

I'm so confused about the denial of things that are actually happening. Whatever helps you sleep at night I suppose.

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Post ID: @2lqf+PrGRtQY

No worries. Nothing to see here. Everything is awesome. Lol

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Post ID: @2omp+PrGRtQY

Hey @1ugh - I will hashtag this as #PrivateEquity - just want to make sure we have this #gold post saved - so true

TLDR - At a totally different company, in a totally different industry, at a totally different time, a totally different PE firm came in and broke up the company. WATCH OUT!

Quote : I was an employee at a public company which was bought out like Staples. 50% layoffs in the first year, (about 10-15% each quarter) but they also cut my medical benefits, etc and doubled my workload to make up for the that missing 50%. I left after 15 months of it. 15 and 20-year employees got about 50% of their expected pensions.

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Post ID: @1vde+PrGRtQY

TLDR - At a totally different company, in a totally different industry, at a totally different time, a totally different PE firm came in and broke up the company. WATCH OUT!

Quote : I was an employee at a public company which was bought out like Staples. 50% layoffs in the first year, (about 10-15% each quarter) but they also cut my medical benefits, etc and doubled my workload to make up for the that missing 50%. I left after 15 months of it. 15 and 20-year employees got about 50% of their expected pensions.

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Post ID: @1ugh+PrGRtQY

I was an employee at a public company which was bought out like Staples. 50% layoffs in the first year, (about 10-15% each quarter) but they also cut my medical benefits, etc and doubled my workload to make up for the that missing 50%. I left after 15 months of it. 15 and 20-year employees got about 50% of their expected pensions.

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Post ID: @1blz+PrGRtQY

Please be prepared because these cuts will continue. The company needs to cut expenses now that it is property of Sycamore (a private equity firm). Staples will be prepped and made to appear more attractive for obvious reasons. As all have been witnessing, these changes need to be made quickly. No time to waste.

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Post ID: @1fvg+PrGRtQY

AM’s people, my post was first about this. BP

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Post ID: @1wrv+PrGRtQY

Get on the HUB and READ the policy on severance. If possible find the changes and dates of the changes to this policy. It use to be 1 week for each year of service up to 16 weeks. (I'm sure they have F,cked that but look anyway. DON'T ACCEPT THE FIRST OFFER AND NOT THE ORIGINAL POLICY!

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Post ID: @pgm+PrGRtQY

I hope they fire the driver they just hired.

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Post ID: @kxo+PrGRtQY

I am afraid there are more to come. I had hoped there would be more than 4 weeks severance. It is getting closer to the holiday season and it is harder to find a position until after the first of the year.

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Post ID: @atb+PrGRtQY

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