Thread regarding Newell Brands layoffs

@xk I just love that Huet was the voice of "Passion for Winning" - everything she touches loses...hard. What a joke of a "leader."

https://www.linkedin.com/posts/newellbrands_at-newell-brands-passion-for-winning-is-activity-7245131002241515521-ATJF

@xj Fun fact, Harland & Wolff also had "Passion for Winning" as one of their core values...That's the company who made the Titanic, btw.

Rumor is, Newell Brands is removing "Passion for Winning" from their core values as the ELT can't even keep a straight face when force feeding this rhetoric to the masses.

Let's keep clutching onto PEAK...
It seems someone forgot to tell the stock price to PEAK as well. Clearly the investors have little faith. Allow Mr. Gobble Throat to continue reliving himself on our heads while telling us its raining.

@qj i had no idea it was at $55. yeah, seems like the tariffs are also a major problem. i don't see how things will get better any time soon

@q4 see, yeah, i have a feeling it's a sinking ship too. and leadership wasn't very reassuring in meetings today. they said something like, "it's a situation we'll constantly be re-assessing," which to me means more layoffs could be on the horizon. also, for months they've acted like things have been fine and we're going to come out stronger on the other side, but today they admitted things haven't been going well. so not a lot of trust!

The stock price is the lowest it has been since 1987.. didn't go below $4.70 a share after '08... was almost $55 a share in 2017. At this point no restructuring is going to save them and the next hit to economy will torpedo. Would seem more likely to be acquired or split biz units off to be acquired.

Glad I jumped ship b4 all this.. after making it through 3 layoffs!!

@q3 I would like to know as well!

@q3 I've been "out" for awhile now and while I do believe there's value in the brands...and there's a host of great, talented people there...it is, as it stands, a sinking ship and one not worth staying on. It will for sure get worse before it gets better...and "better" might mean just a little bit better not thriving. You have a leadership team at this point that is swamped by arrogance, short-term incentives and a lack of understanding of people, team, engagement and leadership...the things that actually will grow the company long-term.
Too much debt. Sacrificing too much to protect dividend. Macro pressures. Bad leaders. A strategy that probably would work but requires a focus that isn't there. Cutting the wrong people and teams at the wrong time.

@pr so should we all get out while we still can? someone tell me.

@n4 I'd argue that they get rid of hyper-talented folks in every round, but the last couple rounds have been very deep. It's all reactive and will end up costing them in the long run. Ridiculous leadership at this point.

@jc All segments and towers got hit. This wasn’t surgical, they actually got rid of very talented folks in this round. They had to respond to the investors quickly, and some very counterintuitive decisions were made.

Used to work at NWL- seeing people in Corporate Finance, IT, R&D, CMI, Program Management, and Marking all posting layoff announcements on LinkedIn.

@jc all i know from my side is proofreading was wiped

Nearly the entire R&D dept for O&R got cut. Anyone else know what other departments were affected from O&R and the other businesses?

Supposedly emails went out… Still radio silent from peers.

stating all this stuff publicly, in a press release to the wide media - and then not communicating more responsibly with employees.. utter disrespect..

Radio silence so far. What gives?

@a2 same. Waiting for the dreaded email.

@a2 still nothing I've heard either.... Now we all just wait anxiously for a few days I guess...

It’s not 3.8%, it’s 10%.

To my knowledge... no one has been notified yet.