Probably the most stupid thing I heard for a while!
May looks great on paper, but will be a big fail in real life.
9 replies (most recent on top)
I am sure it will be as much as a sh– show as customer service is now after being outsourced!
Cutting "costs" is more helpful to a company with well thought through, documented processes and effective cross-team cooperation; that helps with productively bridging self-created cost-cutting gaps in the foundation. When you are not that company, you are just creating sinkholes in your foundation.
@Upbeat this board is about layoffs, isn‘t it? ~250 globally and about 80 of these in the affected department only in this round is something which has to be told and suits perfectly in here.
Am I wrong?
Cost efficiency is important, no question, but what about the empty phrase like ‚our employees are our biggest value‘...blablabla?
The infamous "disgruntled employee" excuse for bad management.....a laughable, pretentious and overall PREDICTABLE response. 👏
Upbeat. Yes your comments are true. This has been in the works for years. Let's get Fossil back to growth. Hopefully the Global Outsourcing will be successful its not going to be easy.
This board seems to be essentially populated only by disgruntled employees who jump at any cost reduction initiatives that involves headcount reduction. I am more than sure than management would much rather everyone employed and go back to the good old days...but unfortunately the company cost base was set up for growth, a different revenue scale and a retail store heavy presence. Over the last 3-4 years Fossil operating expenses were well in excess of 52-53% of revenues, which for a business that has at best a 50% gross margin is simply unsustainable. Whatever is the reason for the revenue reduction the only option for a company is to cut costs and therefore people given that other operating expenses have already been cut to the bone. I am not suggesting that this is pleasant but simply that it is the only viable option. Equally I am sure that should revenue return to grow (see MK recent positive comments) more people would be hired and there would be more management turnover.
Not news...again, why do you think EY India was in every location EMEA, AMERICAS, etc. gathering policies and procedures. Richardson office next.....hence the term "Shared Services"
This has been in works since 2019. It was expected to happen in 2020 but I guess it got pushed out to 2021 due to pandemic.
Not every cost saving initiative makes really sense! Looks like PANIC mode is driving decision.