Who else is Jonesing to quit before rush?
20 replies (most recent on top)
Not the sound, financially improving companies who value their employees! What is interesting is that this not only screws the people that are laid off, but ruins the morale of many of the employees because they see it happening. The loyalty and commitment to the company go right out the door. It is now an embarrassment how Follett treats its employees. Remember all work gets done through a workforce.
Do you know how many companies do this?
Follett abused long tenured employees until they could document cause for firing or until the employees quit. In addition, they simply fired 600 full time employees because they had benefits and because they were paid more. That's the truth. By coming to work everyday, you're condoning this behavior and you're simply hoping "there but the grace of God go I". You should be actively looking for work. If management never loses a lawsuit over the abuse, they'll be emboldened to do it some more. Your grace will run out at some time. In the mean time, you're contributing to morally corrupt organization that feels it can ruin lives. Does that describe you? If not. Quit or organize and start the change.
25004 Why should you care? Two wrongs don't make a right? That's what you say when discipline children. You want to run with the big boys this is what happens. Don't forget it.
I am not delusional, I think everyone knows where the ship is heading. Getting rid of those who knew how campuses operated and had contacts, well I can not say for sure but it seems the replacements have only quicken the course to the destination. What I was trying to convey was large numbers get reported by large companies. I do not agree with someone who MAY have had a trusted positioned in a privately held company to post their numbers on the internet. This company was a good company it now is in a bad situation that does not excuse how people were/are treated and lied to, it is wrong. Two wrongs do not make a right. Empathy to all the anger out there and what you think will happen very well may. Will you feel better, maybe for a moment maybe after that I doubt it.
@24848 You are delusional
(My gripe I don't want US federal dollars in FA and loans going to good jobs outside the US. These are billions in US tax dollars starting to go to another country, now that's not right this is not discretionary income money these are my taxes, not a good marketing tool for a spin on Follett.
Folks welcome to large companies financials. Though whoever posted the numbers should never had the job in the first place because they HAD a position of trust. This is an opinion coming from someone who was let go. You just don't do that it is wrong. If they are wrong they are wrong, but guess what so are you. Don't make the same mistake with your next employer. Back to the subject, yes it is possible for a large corporation to lose 10 mil a month, just as possible as making 10 mil in a month, hello, it goes both ways. Usually the slide down is faster then the ride up that is true, whatever. 200k to close a store, to the average person yes that is a chunk of money not if they store is losing 200k in six months or less. I do not agree with many things that happened in the last few years, but voice your opinions, not names and numbers though that's just so low. Follett was a good company, it saved students money by refurbishing books an offering used books to students for a long time. (My gripe I don't want US federal dollars in FA and loans going to good jobs outside the US. These are billions in US tax dollars starting to go to another country, now that's not right this is not discretionary income money these are my taxes, not a good marketing tool for a spin on Follett. But that's another conversation). Keep the posts half way classy and I bet this site well retain more readers, otherwise it's like slumming and it makes me feel dirty just reading it. If it continues I won't visit it anymore and I think won't either.
About 5 years ago I heard that it costs follett 200k to close a store.
"They would have closed their doors". That's bold. Where are the facts that support that claim? Closing doors costs money, too. Where is that coming from? What is the return on closed doors and liquidating inventory? I think you've drunk the Kool-Aid a litte too quickly, or you're serving it.
If the company was losing 120 million a year. (10*12) they would have closed their doors
quote "Hate to break it to you, but Follett corporation is doing fine. It is the front line employees that are hurting"
I hate to break it to YOU but they lost about 10 million a month last year & the figures are even higher this year. How do I know you ask? cause I got to see the monthly financial report. My position was privy to the information. I left at the first of the year when I found out the gate was going to be closed on bonuses.
Follett is doing really good at plugging all of you.
Smart people know to get out now, or wait and be laid off or get no bonus after all this stress!
Don't count on new systems having any positive impact. The new IT leadership team does not want to listen to reason, always making decisions based on emotions and pronouncements instead of facts. The projects are deliverng less and costing more. And we blame the vendors instead of taking responsibility.
Suzanne Stegman called it quits as well. Really healthy company if group VP's are quitting as well.
Don't know where you are getting your facts, but Follett Corp is not doing fine. Sales are down 4 years in a row and this year is stacking up to be the worse yet. Heavy investments in new systems (that don't have any kind of positive return) means cash flow is suffering. New store lease rents are escalating in % thanks to BN aggresively going after the market. Even some of the high level kmart folks are jumping ship after only a year.
Hate to break it to you, but Follett corporation is doing fine. It is the front line employees that are hurting.
Not me, but I don't work for Follett. I like hearing about this stuck up company finally get its comeuppance.
Yes.