They kept promising no layoffs with the acquisition of restaurant depot, but here go. Layoffs left and right. Makes sense to do it the fourth quarter so it lowers the bonuses of your workers and also makes you shareholders happy. Is it okay? No. This is an entire business practice. When you spend 29 billion on a company that makes only 2.1 billion, that means you have to offset the cost. However, Sysco employees were promised that we would not lose our jobs…..yet here we are, losing our jobs.
15 replies (most recent on top)
@h6 given earnings are horrendous, all promises in the dumpster
More coming
Does anyone know if any other big changes are coming? The departments that have been experiencing these cuts are backlogged on work-the employees were told their position is no longer needed but the department is extremely behind on work which has been impacting customers, etc. Is Sysco going to be outsourcing most of their jobs?
@j9 yeah unfortunately these things legislated from ELT down...even managers of the people wouldn't known until last moment.
@dw FreshPoint tx. 1 buyer and 1 pricing coordinator. No one in management knew it was coming.
They only "promised" no RD layoffs. Have to pay very close attention to their phrasing. It's purposeful and crafty.
@ej ELT themselves getting cut and exiting in droves. Only CEO left untouched. Board is asleep.
Exactly right, this will continue as costs on the merger debt accrue more and more.
It is a numbers game for this company. Experience , tenure, performance, have literally no weight in decision-making of who gets cut. People working there that should have been let go years ago still showing up for check and nothing else. 25 yr Employees making significantly less that fresh out of college new hires. Unfortunately this is a company that does not value their people. As long as the ELT makes their million dollar bonuses, can travel on the private jet they dont care. Employees continue to lose benefits year over year. Truly sad the company has gone this direction. We hoped it would self correct over the last few years but it has only gotten worse.
It’s never the ones that had any control over any decisions that affect outcomes!! So tired of the ones in charge who could have made a difference, all keeping their jobs!
First off - I’m sorry that you’ve been affected by this.
What departments are experiencing these cuts? I’ve heard that revenue management and marketing were affected.
@cx everywhere
Specialty, sales, merchandising, technology. Across the board
@cr what areas are getting laid off?
@cj even more today.
500 jobs cuts yesterday including some very tenured employees at the brink of retirement. Employees with 30+ years experience, gone effective immediately.
@OP strangest lie possible...
Every company takes on massive debt will have entire cash flow soaked up into interest payments, especially in this rate environment
Paramount WBD deal transparently stated up front cuts will happen, people prepare better
I don’t believe it’s just because of the acquisition. One could say it’s because of the political climate, or the increase in energy usage.