Overstock.com laid off over 100 people today, as well as 1/3 of all Mac Warehouse employees. They also canceled all raises, all bonuses, and announced internally that they're screwed if a Chinese investor doesn't come through. Yikes.
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The layoffs did happen. Patrick did not say that the company is screwed because of GSR. The massive drop over the last year is because people tied overstock to bitcoin. If you look at the stocks before Sept '18, it's about the same as it is now. Not all raises/bonuses we canceled...only for most.
This is true, and not FUD
Sure frank. Ostk stock is down 85% in the last 12 months. 85%. If that doesn't qualify as a putrid dumpster fire, then nothing ever will. I don't need to look at anyone else's e-mail comments to make up my mind about this company. All I need to do is look at the numbers. The better question is what are you looking at that indicates anything different? If it looks, walks, talks, and smells like a dog, it's a dog.
nice response revealing your professional opinion ("putrid dumpster fire"). remember "Just because [XXXXXXX] says something in an email doesn’t make it true”.
Actually, making an announcement such as "we are screwed if GSR doesn't come through," is exactly the type of thing that crazy Patty Byrne would do. Not smart? You bet. Unrealistic? Unfortunately, no.
Regardless, if Ostk did just lay off over 100 people, including 1/3 of their Mac warehouse crew, they may as well be saying it. The only surprise is how this putrid dumpster fire has managed to stay open this long.
sounds like usual bs fud, every january. Imagine a company announcing "we are screwed if GSR doesn't come through" Cmon bears, cant you write better fiction than this?