Thread regarding Office Depot layoffs

Depot difference days of service.... and cut 500 employees

So, after a long week of layoffs, corporate restructuring and a town hall where Gerry and his financial 2nd in command wear $300 shirts and thousand dollar watches while telling us "we have to be all in..."..... Then we hear from HR that Depot day of service will continue on......

And the head of HR, Zoe, says "we thought about it... But it is what it is...". And Depot days of service continue because "people are counting on us"

For this day of service, I wonder if anyone at senior leadership level realized that the food banks will help those employees laid off in the future. That the job retraining will help those 400+ employees that they cut. And that the senior leadership was so terribly insensitive to the plight of their people that in the same week, sent out their sales incentive packages.

Hope you enjoy Napa and the hundreds of thousnsa of dollars it will cost to send "top performers" to vineyards to celebrate successes. Hope you enjoy the $100 mm in savings from the layoffs, store clisires and synergies that should have happened 10 years ago....

I also think you enjoy telling Compucom employees that they are 400% under target, which equates to about 25 million vs BSD and retail being at about 15% below, which equates to over 200mm.

You guys s---. All of you.

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Post ID: @Z1mbHhP

13 replies (most recent on top)

Wow

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Post ID: @Z1mbHhP-9hzj

Napa, California??? BSD went to France, French Riviera.

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Post ID: @Z1mbHhP-6zww

If you think that is different at any other Fortune 500 company, you are kidding yourself.

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Post ID: @Z1mbHhP-1gvh

I’m going to be grateful for what Office Depot did provide me and my family over 13 years, but I will never understand the decisions being made. Loyalty and dedication are not words appreciated in the corporate world anymore. I was generating revenue. I was keeping relationships and growing new business. I kept Staples, Amazon, Mason and even local suppliers at bay. I won customer confidence and grew sales. How was I not being a productive part of the team? THAT I will never be able to comprehend. Tell me it’s about money when I’m making the company money all whilst our CEO, and other top executives, make the ludicrous salaries/bonuses they make with no apparent accountability for losses. Bye Felicia! Looking forward to life after depot.

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Post ID: @Z1mbHhP-1wxe

But either Depot is an attractive company with plenty of cash on hand or on the verge of not being able to pay the light bill. Can’t be both, people need to pick a narrative and be consistent and lead with facts, not emotion.

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Post ID: @Z1mbHhP-1sjy

Maybe. Or maybe they need a buyer to get them out.

Amazon? Walmart? Who wants to buy a company with millions in cash?

Everyone.

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Post ID: @Z1mbHhP-1inc

Total revenue in Q1 2019 dropped 2% from Q1 2018. BSD sales were up 1%.

The company has $600 million cash on hand.

The company isn’t ceasing operations any time soon.

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Post ID: @Z1mbHhP-1bbd

This is the tip of the iceberg, the stock price dropped by 33% in one month. They are spiraling, more layoffs by year end, more store closings, they can’t win new business against Staples or Mason and Amazon will continue to kick their teeth in. If you’re still there run don’t walk because they don’t care one bit about you.

There is definitely life after Office Depot.

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Post ID: @Z1mbHhP-dsj

The point is the timing. They timed out layoffs over the last four months. Waiting a week wouldn't have hurt the bottom line, except it wouldn't have lined up with earnings announcements.

There was a reason the Depot day of service aligned with earnings announcements which aligned with layoffs.

And as Zoe said "it is what it is". Not "we think it's important to give back and the timing is unfortunate" not "we can't let our communities down" but....

It is what it is.

Which equals we don't care if we are being insensitive to the recently cut employees, we don't care that this is unfortunate timing. We don't care, and just need to start saving face and improving stock price.

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Post ID: @Z1mbHhP-ojr

Talk about bad press in the local community if we cancelled the Day of Service. Don’t mean to sound harsh - but life has to go on.

Timing was awful - 100% agree but to cancel and let the local organizations associates were helping be let down would help how?

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Post ID: @Z1mbHhP-via

It wasn't just corporate that got cut, 400+ jobs were cut. Most cuts were out in the field. But the point is that "we are out helping the community" when really, maybe, they should have rethought the timing of the announcements with Depot days.

Giving back to the community is great, but when you've got to use those same services your former company is supporting, it kind of feels sickening.

"Hey look, we are an awesome company. Please don't look at the hundreds of jobs we slashed."

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Post ID: @Z1mbHhP-qih

Why would Depot back out on a day of giving to the community because 170 people at Corp were let go a few days earkierv. 90% of associates at Corp remain and after the week we had, showing gratitude for still having jobs by helping less fortunate feels right.

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Post ID: @Z1mbHhP-mdv

i can confirm it's a terrible company to work for. sketchy sales tactics and badgering customers to sign up for services when all they came in for was a pencil. managers are on the associates because the district managers are on them so on and so forth, gerry smith has done nothing for this company if not affect it negatively.

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Post ID: @Z1mbHhP-qwg

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