1 month left on severance payouts. Come July, the big ol' hatchet is currently being sharpened.
Massive layoff/terminations to follow.
And no.... this is not guess work. It is reality.
All you have to do is research what Sycamore does to companies.
19 replies (most recent on top)
I don't blame Sycamore for being secretive. I would be, too, if I had 184,000 pensionless, jobless ex-workers after me.
"Show your work or GTFO."
SP is private and extremely secretive. You're not going to find much in terms of publicly available analyses on this track record. But I'm not sure why you're being so stubborn about it. Do you not know what PE firms do? This isn't about them being MEAN. It's just an investment strategy. And yes they spin the story that they go after distressed retailers because of the value they see in them...but that's not because they have some sort of affection for the employees. It's only about $$$. They can buy them cheap, restructure and sell off for parts. And that's fine. That doesn't make them MEAN. But if you think they are interested in your career development or on keeping a happy team of engaged employees you are delusional.
| Post ID: @Ts6Mk5p-5hyb. Dude, learn how to copy and paste. Fool
"Wheelchairs for legless frogs.... funny as hell!
Sycamore Partners is ruthless. All one needs to do is look at their brief history. Cut-gut-sell. I am not aware of one instance of them bringing back a company that is public ally traded again. I see only get in at a low price - cut, guy and then bankruptcy with others holding the bag. Trained at Bain Capital. Trump himself must be proud."
Show your work or GTFO.
biggest donor of bones, biscuits and chew toys
hahahaha, best comment ever.
don't worry, folks, you'll at least get a chew toy for severance.
Wheelchairs for legless frogs.... funny as hell!
Sycamore Partners is ruthless. All one needs to do is look at their brief history. Cut-gut-sell. I am not aware of one instance of them bringing back a company that is public ally traded again. I see only get in at a low price - cut, guy and then bankruptcy with others holding the bag. Trained at Bain Capital. Trump himself must be proud.
You either work for SP or are just delusional. You can be a cold hearted PE firm that guts companies to turn a profit AND be philanthropic. They aren't mutually exclusive.
But SP is looking to turn a profit, and do it quickly. They have a mess on their hands. They will not make any money by paying out severance packages or big bonuses, or by keeping teams over staffed. There is a ton of consolidation that needs to happen and they will continue to cut until it hurts. It's nothing personal. It's business. But claiming they aren't the big meanies that we think they are by pointing out the occasional charitable contribution is just foolishness.
Don't forget they just suspended $2 million & change and laid off the entire team devoted to community engagement.
Did you know that sycamore partners donated free wheelchairs to legless frogs?
Did you know Sycamore Partners took a loss on its recent Nine West acquisition to honor a prior agreement to its several hundred employees on compensation for unused vacation hours?
Or that Sycamore Partners donated 200,000 meals to homeless vets in the New York metropolitan area last Thanksgiving, without any PR or local media coverage?
Or that Sycamore Partners has been the single biggest donor of bones, biscuits and chew toys to the Daisy Hill Orphan Puppy Farm?
Did any of you criticizing SP know any of this? Did you???
So I guess that easy research on how SP slashes and burns the companies it owns has proved a little more difficult than it looked? We're all waiting with baited breath for these facts you claim are readily available.
"Again, Where does it say anything about severence changes?"
Answer - In the agreement package that was sent out last year to all employee's.
Again, Where does it say anything about severence changes?
just press the button...
"that was Easy!!!"
"And no.... this is not guess work. It is reality.
All you have to do is research what Sycamore does to companies."
If it's so easy, why don't you show your work?
More top notch people have left SDS.....place is falling apart.....Offshore will not be able to handle it!!!!!!!
Where does it say anything about severence changes?
Can't wait to see what they do with SDS in this one
it's going to be Biblical.
Sweet. Summer Vacation!