I think because the only reason they had anything positive was the addition on the vehicle care div. They used those numbers from a very recent transaction/addition to the company for the only reason to look good. The legacy business that we all know from years past is not doing well, and even the distribution business was down.
and you wonder why the company is trying to hold your possible annual bonus if you are not willing to sign their agreement to go into arbitration with their selection of arbitrators rather than file a lawsuit against them in the future? Who ever files a lawsuit against their employer unless something is really wrong in the first place? Obviously those reps that usually get a bonus find themslefes in a position that they have to sign their agreement, the rest dont.
What do you want to know ? He couldnt turn NASS around or make any improvements and for now they have shifted him into another position to work on some type of strategy to figure out how distribution biz with salesrep help can work together in harmony. The future for reps looks very cloudy at best, guess some of the predictions years ago of this happening were not too far off base. Price increases comming, reps are making less money, customers are shopping, the business as many have known is also changing. Not a good outlook for those folks that still have years to go before retirement.
You really think Zep Commercial products are too expensive ? A lot cheaper than the supposed cost of goods the reps are burdened with to then mark up products they sell to their customers. Service reps bring to the table only goes so far, most customers are now finding the time to shop around online, and they can find some amazing pricing if they have the time to look and act. For younger reps at Zep, this business to business sales model will not last too many more years, dont believe what mngt tells you. Just look at where Moffett has now been assigned, working with others at Zep to increase the companies distribution model, and out as president of national sales & service.
May as well, Kimball already has plenty of past zep reps & mngt over there, just dont tell them in advance what they are getting for their money.
Of course Morgan wasnt going to tell everyone that Moffett couldnt get the job done, but we all know the truth, and thats exactly what happened. There are factors at our customers that no one at Zep can control, but most reps have little desire to bust their butts for mother zep the last couple of years, and we no longer can blame things on sap, but please get the IT issue corrected once and for all.
additional cuts may not have been today, but may be on Friday. I know of a few folks for sure in a variety of different depts that got fired last Friday, but I wont name them on this site. Most that I know of were in the Atlanta area offices.
Word is the Albuquerque and Cleveland offices are closing. Also heard was word that a number of folks have lost their jobs., middle mngt and even reps. I have heard a few names, but I wont repeat that info here at this time.
When Zep split from Acuity, I would have never thought the chemical division would ever hold back the lighting division. Zep & Selig had always been cash cows, but now Acuity Lighting stock is at $83, and Zep stock is at $13. One near an all time high, and the other is in the toilet. I dont know what the future is for sales and service reps whose customers are always looking for the best deal, and spending their precious time searching for the best price, but this company needs to find a way to turn this ship around.
Sentiment: Strong Sell
Can someone confirm or deny that all company conference calls, webinars and town hall meetings are boring and a waste of time for most of us that really know whats going on with Zep behind all the smoke and mirrors ?
So folks were thinking or hoping that Moffett was MIA, well his webinar call from last week answered that myth. Not a very informative or worthwhile call to listen in too.
Zep wants every distributor of products they can muster. Many customers will have less and less reasons to buy from sales and service reps not wanting to pay the higher comm rep prices or not thinking they need any service. It may take years, but sale and service model reps are going by the way of the Do Do Bird, extinction.