The layoffs are in anticipation of Staples going public 2019-2020. Sycamore Partners made the fundamental changes they wanted and now they are dumping employees so the financials look better. Standard stuff for a turnaround company. The only surprising thing here is that they actually tried to implement changes they thought would improve operations and it took much longer than normal before they gut labor.
9 replies (most recent on top)
Staples Retail is performing well. The contract side of the business is under performing and not making enough to carry the labor load. Contract chronically sells contracts for insufficient margins. This layoff is strictly for contract employees.
Hilarious!!!!
Empty store front that will serve as a space for those Spirit Halloween pop up stores in September and October. That's the future. Spooky.
False rumor. Don’t believe it to be 3 to 6 months. Maybe a few years down the road is my guess.
What are you talking about?
Back to School sales were off the chart!!
Why would you say that Retail is being sold off in 3 to 6 months?
Is this a rumor or facts?
Google Block Buster and Toys R Us for future of Staples retail
who or what would buy it? Retail as is is a LOSER !! Compare Staples prices, look at the cr@p they are selling. Has retail shown any growth? Instead of having a pipe dream just breath in the fumes from the pipe it will be a peaceful end.
Retail to be sold within 3 to 6 months..