All tenured managers in my district have been terminated in the past 2 weeks.All of them. New rookie managers now in place at all stores.All new managers being paid half of previous managers salary.Not their fault but the customer experience at the stores is degrading at an accelerated rate.The death spriral for my company is in full gear.Absolutly the worst company to work for.I am a 20+ yr employee and you can call this a rant if you want to but I just cannot believe the decisions being made at the top.This company is in big trouble and is not going to last much longer.
Thanks for this info. This is basically insider info from employess but hey if its up here I am trading on it. What you say is common for a company on the ropes. The only ones who think the shacks going to double or triple are the ones who bought for double or triple.
My eyes are open and can read.......I know where its heading. Thanks for your post
Unfortunately, accountants (i.e. the current CEO) only know how to slash/burn/cut and one of the first things is SALARIES. The highQer the salary (upper management excluded, of course), the more you're going to get fired.
Considering Q4 results will be a total disaster, and IMHO worse than even predicted, they've got to cut something. Inventory has been cut to bare bones, so they can't cut anymore than that, so it's got to be people and $. After all, they've got to pay back that 11% $100MM loan they took out and they'e got to have some $ on hand to dangle as a carrot for somebody to come in and possibly save the company (if that's possible now).