At my store there more talk about potential schedule changes than there is about layoffs. It’s an odd situation not to ,at least, hear rumors. On the other hand, I doubt that they are done with layoffs, so I could resist to ask on this board has anybody heard any rumors about layoffs during this month?
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everyone who cites penneys needs to get over it. penneys has been in serious decline for a very long time and will probably go the way of sears and carsons soon enough. very large department stores continue to struggle...blaming marvin for that entire industry struggling is laughable. penneys stock going down, as you say, 70%, is pretty misleading when your stock is already only a few dollars. if they went from a stock number of 200 and went down to 30....thats a much bigger deal than going from like 11 down to 3. any ceo is going struggle to make penneys relevant again. this is NOT an endorsement of anything marvin has done or not done but rather a rebuke of claiming penneys failed because he showed up.
i think the new ceo of penneys who came over from joann fabrics was offered a whole lot more than he was as penneys ceo and i think even lowes. i think marvin got hired on at lowes to bring them up to home depot standards...make all those nasty decisions and changes that in the end hurt a lot of people and then they will kick him to the curb. he will make a load of money but i think hes being used up. its very clear the activist investors expect him to move at an insane pace to make these changes....i think unless his team can prove that they have ideas that go beyond what they did 10 years ago at HD.....once he makes these changes they will eventually find a way to replace all of them.
Marvin is a FAILED CEO but he was half the price of Niblock. I don't know if I would want to be him. Hey take a job paying half what the previous guy received. Then again with is track record of failure guess he was just happy to have any position. JCP stock value went down 70% in his tenure..
It’s Lowe’s. Is anyone’s job safe? Not even Marvin who sold his soul to the devil to be CEO.
God Bless!
they laid off the charlotte CDT workers....except admins....drivers were given an opportunity from what i hear to join the 3rd party company -- albeit id bet it comes without benefits and lower pay but who knows. total was around 200 workers--they work till april 30th and i think get one months severance. wasnt the first CDT they closed. its no surprise though as marvin said months ago they were going to cross dock. some of this stuff was in the pipeline before he became ceo---like the direct fullfillment center in tennessee. the company is drastically changing how they move freight.
It’s all over the news and the web. They’re laying off hundreds more in the Carolinas.
Ellison is running Lowe’s down the TOILET!!!!!!!!!!!!!!!!!!!!!