Safeway said they will have regular jobs and transition jobs. The transition jobs will be workers who are here for the term identified (3-12months) and then its over. Our Director secured her direct staff jobs and herself of course. The rest of us get to interview for our jobs. The messaging has been inconsistent, in accurate and we are left to ask others, some inside the company and outside. Bottom line is a financial company bought us and a financial company will cut costs. Cerrabus has no interest in keeping an expensive group or real estate in Pleasanton CA.
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Hey Anonymous66178 Let's realize that investment bankers bought Safeway. Safeway got sold because the former owners could not get as much profit out of it as the shareholders were promised but the investment bankers. Cerberus (name refers to the dogs that are the hounds of hell). Look up the Google images for "Cerberus": Does that give you confidence that more baggers, delivery service for the housebound elderly, and a better store are what is ahead? Take a quick look at the investment banker's way to make piles of money for shareholders: It is described in the experience of Mervyn's. It's a pretty straightforward procedure.
1.) Buy a company (Safeway), Make it look more profitable in a big hurry (i.e. disbanding the shrink program and telling the stores to fill up the store with as much items as possible, it doesn't matter if you have to through away half if product spoils) and for the short run by cutting costs (see: massive layoffs), selling assets (i.e. the significant properties Safeway owns), reducing services, and other "Economies".
2.) This than makes all the ratios banks use to give loans much more favorable, even though the new financial plan is not sustainable for a long term business.
3.) But with the new rations, a hugh refinance gets made with the banks, thus saddling Safeway with massive debt and yielding obscenely big "fees" (paid out of the capital that is lent) for Cerberus investment bankers and the shareholders.
4.) Adding this massive load of debt to an already crippled grocery business, Safeway then declares bankruptcy, where Cerberus then sells it at fire-sale prices, once again yielding big profits for themselves.
Did you expect the hounds of hell to care about Pleasanton's grocery needs or your local store needs? They are interested in profits, indeed they have a fiduciary legal responsibility to make the most profitable arrangements for their shareholders. The rest of us will just have to get over it--get over the loss of grocery store, loss of jobs, disruption as the properties are all sold off and everything settles into something totally different.
No one is safe...you think at the store your precious job is untouchable. Think again and start preparing yourself for another industry. That is all-
Cut all the backstage they can... we had like 8 backstage employees for every 1 store level employee
Its nice to not get 200 emails a day anymore.
Glad backstage cuts are happening.. now we can sell groceries and actually have someone to sack an order
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