It would be expected that the company is cutting people with a higher goal - to be able to dedicate itself to a better vision of business in the future. However, for years, after each layoff, the situation at Fossil has been getting worse.
Layoffs do not bring any improvement here. Just the opposite. Layoffs are detrimental to any improvement of this company. It is only in their interest to get rid of the things that cost money, and they are not interested in the consequences.
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Until they lay off Darren and half the other joker ELT, nothing will change
@7igh+1aM1esWp and furthermore, the reviews on Glassdoor are mainly from Hourly Store Associates...of which has high turnover rates...and not Corporate Business employees.
Plus, companies pay for Glassdoor corporate profiles....you figure it out!
@7igh+1aM1esWp well ummmmm, maybe because one would need to register on Glassdoor to leave comments. So why not remain anonymous on this very accurate forum as the powers that be never listened to us before, so we'll continue to utter the truth albeit positive or negative in whatever way gets the point across.
I wonder why on Glassdoor the majority of the reviews are still very positive on the company and management? Anyone here has a thoughtful explanation???
How many of the current US staff will actually be left... you all are working with a "skeleton crew" as it is?!!
Unfortunately folks, I think the entire process was to basically eliminate the US office.
I agree with poster @7sms+1aM1esWp .
Improvements include higher pay, higher moral, and improved career direction. Obviously not at Fossil, but at another company, or taking the step to start your own business.
I'd love to stick around, but I don't believe that upper management has a clue on how to course correct. The only initiatives that C suites can agree on in the last 5-6 years is reduce cost and reduce staff.
Disagree. Investors like companies with good fundamentals and growth and earning potential. Speculators like cost cutting and short term goals. Investment is a long term strategy. Speculation is like gambling, just in it for the quick win. Cost cutting alone does not lead a company to success. Especially one with no vision, d-mb structure, mo--nic silos and a dim future. The best thing Fossil can do at this point is keep as many people employed and paid with benefits for as long as possible. Anything else would take real work, math, communication and transparency, and I have not seen any of that here in so, so many years. And when I did see any of it, it was always only a moment. It is good to have a job. It can be ok for it not to have a bright, long future that would warrant true Investors.
I wholeheartedly agree with the poster, good strategy, good design and a vision for the future are all free, they dont cost any money and, sadly, they are at the heart of the issue. Fossil had to cut costs, sure, and having lots of stores for products that are generally sold wholesale that means cutting people if revenues are coming down fast. Fine, we have done that, now what? What do we stand for? What s the vision? Why should anyone buy a Fossil made product?
I am afraid there is no answer to these basic questions and here lays the responsibility, incompetence and bad leadership of current management. Plain and simple, we cut the costs, we lay off people, then what? Now get out or sell the company before you bring it to the ground.
Guessing some people were let go that shouldn’t have been, quite a few left that should have been let go and countless good employees that jumped ship.
Good luck with that.
Cutting expenses is good for the bottom line, investors like that.