We outsourced a majority of IT. This company is being packaged up for a buyout so the CEO and other execs can cash out and ride off into the sunset. It's funny how they just changed the 2nd floor cubes of the IT department (that was just let go) to an open style environment (think call center type). Why waste all that money switching all that when they knew pretty much they would miss being profitable again. Management is so dumb and clueless...
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“It’s a crazy mixed up world, it’s a dog eat dog woooorld - it’s a dog eat dog wooorld... oooh... dogs world”. I love that tune!
That’s IF someone buys the company as of now. They have lost major buyer value with all of the money holes currently in place. If someone buys this company out, they will have a bunch of money to pay within/over the next 3 years. And I mean ALOT! Makes me feel better about any loans I currently have that’s for sure.
Let’s hope someone buys out the company as this would be the only benefit. If not, then it will complety be closed. Acceptance locations are closing to support the major loss of accounts in RTO stores. Those accounts will be transferred into the RTO stores which are ALL becoming unprofitable. This is why they have opened stores in the past so closely to one another. It’s like a game of chess in a way.
Stores sales are down throughout the entire company, but that won’t be told by management as they will still pressure staff into thinking it’s their fault when goals aren’t met. Another way to legally neutralize the books - enforce the rules and goals (like they should’ve been doing anyway, but haven’t), and legitimately fire employees who earn ‘too much’. Neutralizing the books makes the offer more attractive to potential buyers, but day after day the money hole keeps getting larger. Good luck!
It doesn't make much sense. They're also closing down every AcceptanceNow collection center nationwide and passing that burden onto the RTO stores. That's after spending a ton of money outfitting every vehicle with Samsung Galaxy S8 Plus phones for routing purposes. The collection teams have been suspicious for awhile but were told, "why would we cut your jobs off after investing so much money into tech?".