Thread regarding Fossil Inc. layoffs

Layoff should start soon

https://seekingalpha.com/article/4249987-fossil-lack-brand-identity-threatens-company

Fossil lacks brand identity and poor marketing

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Post ID: @YbrpCAP

16 replies (most recent on top)

Since Fossil brought on JC Penney people from IT and business, it has been like the plague. Fossil got infected with what is going on at JC Penney.

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Post ID: @YbrpCAP-1bfuy

Sounds like 2014 all over again. Ahhhh memories!

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Post ID: @YbrpCAP-18mva

The layoff has started. Whole Europe affected. Sweden and Portugal office close and other entities loose 70 + people each. Just on one day.. miserable management!

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Post ID: @YbrpCAP-Lsck

When we received an email from Kosta about the business is shrinking, freezing headcount etc, we should aware that another layoff is coming.

Fossil is really done!!!!

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Post ID: @YbrpCAP-Kfev

The lay-off is coming. Everyone needs to be looking. Where is Kosta and his leadership gone? He is allowing his minions like Greg and Darren ruin this company and run in ground. Several big players leaving fossil because the leaders have no idea what to do and none of them are trusted or respected. If kosta would get back into the day and day operation and remove the ELT and Senior VPs who ruin this culture there will be a chance. But everyone we spoke to who have worked here for over 5 years agree the company is done. Your greed and your ignorance in leaders have caused this. More layoffs in 2019 and 2020 coming. Trust us.

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Post ID: @YbrpCAP-Hpww

Looks like I’ll be getting a bonus for sure then since I babysit the danish VP himself!

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Post ID: @YbrpCAP-qozt

Watch out for The Danish VP who only promotes friends and former baby sitters...

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Post ID: @YbrpCAP-pxph

Someone said they are waiting for some poor sap from IT to post here?! Since Fossil has become very political, and supports recent additions from JCpenny’s over tenure, anyone who has been here 5+ years is becoming a poor sap regardless of area (no career plan, sparse promotions, no upper mgt support, no skill building)...

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Post ID: @YbrpCAP-nanq

Whomever says IT had nothing with marketing or selling is maligned. Software is used in everything from ordering from vendors to content and function of our web entities (which is how most everything is sold) to keeping our remaining stores ringing up customers... Misinformation. Another reason we are a Fossil.

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Post ID: @YbrpCAP-naca

It’s important to note that IT has nothing, nothing to do with design and selling of watches. The best thing the company did was outsource IT for a cost savings and reinvesting resources into consumer facing assets. Retail company’s sink or swim on their relevance to the consumer market, not how fast someone fixes their office laptop.

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Post ID: @YbrpCAP-ndiy

Fossil sells modern day horse buggies. This company is done.

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Post ID: @YbrpCAP-hfil

The demise of this great institution started 4 years ago with the hiring of several JCP people. Just like a virus, they destabilized JCP with their abhorrent management practices and non-leadership. Then infected Fossil. They betrayed their IT Teams, which communicated to all the workers that Fossil did not value loyalty. This devastated morale. Initiative and creative thinking suffered as well. Graduate business schools will be studying this case for decades as a cautionary tale of what not to do, how not to lead (looking at you VP Robert). This company is about to go under. Get out as soon as you can. Fossil does not give a damn about you...

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Post ID: @YbrpCAP-hfvh

Waiting for some poor sap from IT to post something here.

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Post ID: @YbrpCAP-cndl

https://www.zacks.com/stock/news/364601/fossil-down-42-in-6-months-is-there-room-for-recovery

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Post ID: @YbrpCAP-5qcn

Start looking for another job.

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Post ID: @YbrpCAP-2tjq

Every kid today carries a digital pocket watch that doubles as a supercomputer connected to the rest of humanity. Fossil has become a fossil.

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Post ID: @YbrpCAP-ovc

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