IT is being hit right now, big time. Given how expensive IT resources are, nobody is surprised – I am not saying those folks do not deserve it, I am just saying it’s a big cost center. Anyhow, support staff at corporate is getting hit as well…
This is the last phase of the Sycamore Partners’ plan to taking the company public in 2020. So they have to improve costs structure so the financials look decent. It’s all fine with the exception of the customer support as we’ll start losing accounts and any customer oriented function will start to suffer. Who will want to buy Staples stock then?