No, his house is worth less in Cleveland now than it was in 2002, and Chicago is very expensive....commuting may be cheaper, and I suspect the Co. is somehow offsetting some of it...maybe not though
Very good post. And yes,most of the new senior management at OMX is from outside the office products industry While they may have previous good business experience,they don't have a clue about the office products industry.And you are correct, there areway too many high paid executives and levels of management,and not enough of the "grunts" who make the difference as you stated. And more and more people who have gone through this kind of corporate situation are vowing never to go back to the corporate world,just like you.
Boy is this company giving me flashbacks of Corp Ex and making me happy I left years ago!
I went through numerous mergers and buyouts and pretty much saw it all. Glad I did at a relatively young age and got out and vowed to never go back to the corp world!
Many of you have nailed it on the head, or hit the push pin on the tackboard in this industry. In the corporate world, it's all about profits and keeping the stockholders happy. Regardless of your experience, contacts, or even sales numbers.....almost anyone in sales is expendable.
I saw very talented reps leave left and right at CE, many that had been in the industry for 20+ years. They didn't even blink or try to keep those reps. The figured they could bring in some young college grad and pay them a decent salary, put all the customers on the internet, and keep the accounts. Manage the accounts with account managers / inside reps, or glorified customer service reps as we often said. Didn't happen, they lost a ton of accounts.
The problem in most of these large corporations is with the mgmt, upper especially. It is a corporate beurocracy, with too many levels of mgmt and many that are from outside the industry that don't know their head from their you know what. They don't realize the importance of sales reps, the ones out on the streets hustling to keep the corporation afloat.
I feel for the hard working people that are affected by this, it's a shame. But it happens every day in the corporate world. Job cuts, layoffs, restructuring, yada yada yada....If they cut half of the high paid bozos that are merely puppets, they would be able to afford to keep the little guys that actual make the company tick and keep the customers happy.
Good luck, ya'll have a few years of misery ahead of you. My advice, get out while you can.....unless you want to be one of those who blow their way up the corp ladder!!
Many of the statements regarding outside reps are dead on. Only B & C playersare left as a lot of the talent has exited where sorry managment holds sway. Most managers think that they can survive by winning bids rather than having sells talent. At the same time sales force requirements for GP go up, thus they are forced out due to the short sightedness of managers that were sales people years ago and are compensated differently. This ship is looking for an iceburg!
Amalie - dont get me wrong, i am not biased against people with educations....i think its great you're almost there with your mba - consider this, i have been in sales for close to 40 years - in this industry and as a financial advisor - my problem lies with corporate America hiring those with bs & mba degrees blindly giving them the 'kitchen sink' with ABSOLUTLY NO PROVEN TRACK RECORD, the upper echelon ignores the talent of seasoned sales reps when it comes to filling those upper management positions and do not promote from within - this industry has taken a beating as far as outside reps compensations over the past 20 years. i worked with straight commissioned reps who earned $200/$300/$400K per year - that no longer exists in the corporate world and the rewards go to those who have no hand in bringing in the sales. Yes, there are still some privately held office supply companies out there where a good rep can make good money - but the suits way up high in the public sector milk the reps and use them - the reps are expendable - However, if ALL the reps in these companies stopped what they were doing for a few weeks - the money makers would have NO MONEY! and who would they blame - the sales reps - a vicious cycle which is extremely unfair to those who bring in the revenue to begin with.
Best of Luck to you - and perhaps you will make a difference wherever you wind up, just remember who brings in the dough that pays your salary.