Thread regarding Rent-A-Center Inc. layoffs

Is this why?

Someone I know works for this place & tells me a member of upper management says it’s ok to let the store managers do nothing while the store assistants practically run the store. This might be one of the problems. You must have managers who expect more within themselves in order to promote the same type of people with similar ethics. I see this place has none at all. Layoffs will be imminent.

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Post ID: @OP+RC3GA1F

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The managers are the best? The best at running up legal bills, overspending in general, stealing, lying to customers and employees, preventing vacations, and basically running the store like circus monkeys. Current employees are upset also. The ones who leave know better to not continually invest time into a company which operates in such a negative manner. Maybe the person who raves on the ‘best managers’ can turn the company around before it’s sold.

Better be quick about it. There’s much to undo!

Now that’s a challenge!

Post ID: @Dhqp+RC3GA1F

that's all from upset x employees, the truth is far diffrent. The managers are the best in the RTO world and everyone k ow it

Post ID: @yble+RC3GA1F

Confirmed! Thanks @article person! After buying out, if they keep most of the RAC staff they have particularly in the Midwest area, they need to train managers on employment law before allowing them to be ethically responsible for employees and the business as a whole. Or else the next ‘guy’ (company) is screwed.

Post ID: @vtzu+RC3GA1F

Rent-A-Center cuts 25 percent of its Plano headquarters staff

Plano-based Rent-A-Center is cutting 250 jobs at its corporate office, about 25 percent of its headquarters jobs.

The cuts are expected to save the company $28 million a year.

It's the latest blow for Rent-A-Center, one of the largest rent-to-own retailers. It has had a revolving door of management, and shareholders have been pushing for a sale.

The company said it's still reviewing strategic and financial alternatives, including a sale. It has received offers and the board and its advisers are actively talking with these groups, the company said.

A sale could happen quickly. The board, which last year decided not to try to sell the company, said it will make a decision about a sale in the second quarter.

Severance costs will result in a $3 million charge in its first quarter, which ends this month. Its stock closed Tuesday at $7.65 a share. Rent-A-Center disclosed the cuts after the market close and shares were up nearly 8 percent in after-hours trading.

Twitter: @MariaHalkias

Under pressure to sell, Plano's Rent-A-Center CEO Mark Speese steps down

Customer complaints mount over Plano-based Rent-A-Center's aggressive collection tactics

Rent-A-Center's collection practices face scrutiny from U.S. consumer watchdog

Post ID: @upcj+RC3GA1F

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