Thread regarding Office Depot layoffs

Bankruptcy may be looming just around the corner

That is definitely a terrible way to be managed by one’s employer. It’s certainly not a strategy that would inspire positive morale, loyalty, or any long-term performance improvement. That is simply a desperate executive management team exercising bullying tactics, rather than an actual thoughtful strategy. The people working in the retail stores did that cause this problem. There were numerous poor management decisions made at the senior executive level throughout the organization that negatively impacted the organization and created consequences to those poor decisions that subsequently snowballed over the past few years.

However, I agree with the other people here that the retail team needs to start seeking other employment. Regardless of if you are at management or associate level, explaining why you are seeking a new role shouldn’t be difficult with all the negative press Office Depot has received lately, especially the stories of their less than positive financial situation that shows little likelihood to improve. I was a corporate employee, and based on what I have seen, I believe a bankruptcy may be looming just around the corner. The time to leave is now!

Bumped from @Z16Pnbq-1lsu.

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Post ID: @Z2j3n5A

5 replies (most recent on top)

but any one person getting laid off...

@Z2j3n5A-zmn try over 500 people getting laid off.

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Post ID: @Z2j3n5A-2vkl

Save that cash. You smart accounting folks commenting here will realize as the money stops coming in due to poor service, rep changes, bad delivery, rising prices etc. the coffers will empty, nobody left to Rif and a further plummeting stock price - will result in bankruptcy. It’s just the way it’s got to be.

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Post ID: @Z2j3n5A-1rpj

I know there are a lot of p-ss-d off folks - and rightfully so- but any one person getting laid off doesn’t mean the company is going bankrupt when the financials don’t support that wish.

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Post ID: @Z2j3n5A-zmn

A company with just 35M$ net debt, 400M$ EBITDA, 300M$ Cash Flow...CANNOT Go BK...I guess you know nothing about Basic accounting...

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Post ID: @Z2j3n5A-kvd

With $600 million cash on hand, bankruptcy not imminent.

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Post ID: @Z2j3n5A-mbn

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