Thread regarding Fossil Inc. layoffs

Get Ready

The stock is crashing on Q3 Profit Loss, not as bad as expected but a lot of this was already priced in. Our global retail comps are about 6% down, this is a very bad sign and things will just accelerate from here. There is nothing in the pipeline that will be able to stem off the decline - we are in the world of pain and it'll be even worse.

My advice: look into options and wake up. Things will not get better any time soon, and for the business to survive, the management needs to manage cash - they will do this by controlling costs, and our biggest cost is our labor: YOU AND ME!

by
| 2069 views | |
Post ID: @Q8fQNPs

4 replies (most recent on top)

Good, the last thing this company needs is overhead. I hope they continue slashing costs

by
|
Post ID: @Q8fQNPs-pfva

Fossil Group

Born: 1984 Died: 2019

by
|
Post ID: @Q8fQNPs-2fby

I agree. That company has too many levels of management. Shocking to see announcements of lay offs then hear that they have hired more directors. There are people at the top of the organization who aren’t needed. That company needs to take a hard look at the price paid at the top of the organization.

by
|
Post ID: @Q8fQNPs-1lun

This is what our "Mis-Leader" in charge said on the call yesterday: "Cost reductions will be an important part of Fossil's long-term success, and the company has made gains in that area. The New World Fossil initiative has already produced 10% operating expense reductions during the quarter, and Fossil has high hopes that it can find even more savings in the future."

This means that they have cut payroll expense by laying off people. Thus, reducing operating expense. In addition, "savings in the future" means that more layoffs are on the way...

by
|
Post ID: @Q8fQNPs-1tpe

Post a reply

: