Did you loose your #$%$ with the stock drop in 2014. Were you hoping to recoup based on knowing that management had to do something like maybe arrange a sale/buyout to boost the stock in 2015? Well forget about it. Isn't it great the way the company allowed you to invest in stock on the down side but now that it could recover on any good news, they have eliminated your ability to put your 401k into company stock? The big boys and girls will recover millions in options value and the associate will get #$%$.
Mr Owen and his Euro idiots gutted US manufacturing, hobbling the supply chain in a promise to save over $20MM in costs by shipping US jobs to Mexico and China. But what really happened is that the project was so poorly planned and managed that in the end, annual costs from Mexico alone rose $11MM over US costs. That is a $30MM miss. While doing this the Euro profitability declined and the Poland factory had to be rebuilt three times because it was so screwed up initially. Inventory was reduced by forcing sales to push unpopular merchandise that had failed in launch already. What a great S&OP strategy that was eh? Yet he gets 400,000 options and $3.5MM a year in salary throughout the "tanking" that he in large part caused and a 41% bonus for 2012 one of the worst years on record in supply chain and two years of salary after he leaves. He helped stabilize the business?....REALLY?. That alone is reason to vote NO on the Exec comp provision of the ballot.
The China factory is likely to be far cleaner and better equipped than any of the US factories. Several hundred jobs in the US were sent there a couple of years ago. More reasons the US workers need representation. Ms McCoy may the company savior you hope for but rest assurred she is not there to take care of the US workers. You invest money and can simply get in or get out. But the workers have their lives invested.
First, your response is an empty threat. second, if you are a member of Avon management, your post is an illegal threat.
Avon just handed all of you workers total power. By closing Atlanta and Pasadensa the company has put all of its eggs in one basket and has no options beyond Zanesville for at least a decade to come. You have been screwed for 6 years. When they opened your facility, they designed the savings around paying you all far lower than what the other facilities paid for the same jobs. Your scheduling, work hour predictability and quality of life has suffered. Now, as the only US option, you have all the power. Take it. Moments like these do not come along but once in a lifetime and will not last.
Avon China fails and declines for 5 years and what happens? Instead of cutting what is obviously a failure loose, Avon destroys hundreds of US jobs to send volume to the China plant in a failed attempt to allow it to aborb its unjustifiable costs. And to make matters worse they build a multimillion R&D center there to service a nonexistant business. A seed that does not grow after 5 years of watering has no potential. I have warned the associates left in North America to protect themselves from allowing more of this to happen. It is about to. If union negotiations were underway it would be virtually impossible for Avon to cut those jobs in negotiation. Time is running out people. You are soon going to pay with your economic lives for the management incompetence that has ruined Avon if you do not act.
All employees in the remaining operations that can unionize should do so immedaitely for two reasons. First they shold do it to protect themselves from greatly reduced considerations that will be the result of the managements' terrible performance and the impending cost cutting and head count reductions that ARE COMING. They will be drastic and the new severance will be far lower than before. The people in Atlanta, Pasadena and call centers are the most at risk.
Second, by unionizing the employees will make Avon far less attractive to a takeover. Any takeover will result in massive reductions and loyoffs as well regardless of whether it is hostile or friendly.
Do not ignore the warning signs and what little time you have left to protect yourselves. The louder management reassures you the less secure you are.
Major cost cuts coming. It all they know how to do. Predicting another site will close. Which will it be? Think about it. Protect yourself now people. We can help u.