Walgreens employee here. I remember Staples 10 years ago being the top dog of Office and cleaning supply sales. Seems by reading this board the company has been devoured by poor leadership from John Lederer and we are next. Are we? Should I be worried?
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Last posted. Spot on that’s the SP Playbook. Buy, rinse, repeat.
Yes - Former Corporate Here
- They reduce cost
- They max earnings
- They cut expensive people
- They load on work to middle and lower levels with no added benefit
- They tell half truths where 'there are no layoffs planned, but with any business will continue to review what the right mix of talent needed is' which means, they'll lay off eventually.
- They take all meaningful assets by buying them for $1 so that assets are owned outright and cannot be taken in a bankruptcy of the actual company
- They keep the company either in debt or with no financial solvency and then..
- Try to turn it around so they can sell it, IPO it and if not
- Bankruptcy sc--wing literally all suppliers because there's nothing to liquidate to pay for debts
- Get new capital (loans) based on the brand name to try to reboot the entire conpany and then revisit 8 and 9 again.
This is the plan!
<3 The Old Staples
Yes. -Former SPLS employee.
JL ki-led Staples.
Private equity has always destroyed businesses in the end. They know nothing about the purpose of a business, have no regard for what and whom that business may serve, and absolutely does not care for employee or even human rights.
Staples became a zombie company through its own hubris. It had become an institution before its leadership decided it wanted to get bigger than Amazon. Now look at it.
Private equity ruins EVERY business it acquires, EVERYTHING gets worse.