I wonder who will they blame at that point, when there are no more long-timers to lay off and when the results still aren’t there. I wonder if that is the point when Marvin admits that the employees ren’t to blame, but his own flawed strategy?
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Marvin always leaves before the c-ap really hits the fans. He tears the company apart, makes change that gives the appearance that costs are cut but the cut in people or closing stores ends up further decaying the company, then he runs off to the next victim with his big bonuses and leaves the company to further decline. Look at where he used to work. Need I say more.
Management will terminate the work force and begin a ring of delegation to the other members of management. Eventually the hand offs will cause leadership to self destruct. Then Depot will purchase strategically located Lowe's stores and use them as appliance distribution centers.
Marvin doesn't have a strategy. ALL of the decisions he has made since he was appointed were discussed under the previous leadership - the only difference is he has made the decision as opposed to talking about what decision to make. Marvin, an out and out operator, will lead by fear and drive results (if you don't get the results, you will be let go) and someone will be put in your place.
If you have not worked at Home Depot, Sears or Target, they are not interested in talking to you. Promotions for those that have been at Lowe's a long time have ceased and promises of investment are being reigned back in because they are beginning to realize that going back to retail fundamentals is not as easy as when all the executives did it 10+ years ago. Retail has evolved since then!
It will be interesting to see what pieces of a great company are left when Marvin is let go because he can't get the stock price to the level that he is being asked to by activist investors and his buddy who invested.
The new regime and the changes in scheduling/Staffing are doing so well, the entire night stocking crew at my store walked off the job enmasse last night.
Then they go to Home Depot or some specialty store. The reality is Sears is gone, and people aren't going to switch because they don't give a damn about customer service. They know what they want and they're going to find it. They want their product spec'd to order as quickly and cheaply as possible and for you to get the hell out of their face unless there's a problem in which case it should have been solved yesterday.
Cashiers will then make outbound telemarking phone calls asking, begging, and pleading for customers to come back and spend more money.
They will do it from their own phones because the tech we have is so old that parts can’t be found to keep it working.
It will then be the customers fault for not buying enough.