Layoffs far from over.
Most levels 38 and above affected.
Select few will remain. Across the board!
Outsourcing and home basing resources.
If you work remote out of state, you're gone. Not maybe. You're gone.
Expect the following; increased work, lower review ratings, unachievable goals due to resource constraints.
The goal is to get a maximum return in IPO not your career. You do not matter. You do not matter. YOU do NOT matter.
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I can't give vivid details but can confirm the comment the OP made about remote workers.
I recall IPO being mentioned no?
Can an IPO be opposed?
Rather doubtful, suppose Wall St could oppose by not biting on the sale of stock, an IPO is not SP's plan if it were they would be trying to ADD value
Can an IPO be opposed?
I cannot believe some people are still saying IPO in the same sentence as Staples??? It will never happen. What exactly would one be purchasing if one bought Staples stock? The company has no value. SP will get their $$ by having the debt they acquired discharged in bankruptcy court and of course collecting monthly lease payments for hdqtrs Staples so graciously GAVE to them.
Dirty little secret: When company went private, NAD VP's and above were given huge deferred bonus plan, vesting over 5 years, but no payout until change in control. Only about 75 associates qualified. Most if not all of those people are now gone, thus Sycamore will not need to give the payouts. Pretty crafty plan....
agree about CEO speech. it's like demonology. they feel required to give you an warning but mask it in oblique words. at my "staplies-like" learning experience, the CEO said, "We're going to reduce operating costs by 50%", and virtually nobody except me heard "big layoffs". where the heck did they think a 50% reduction was going to come from?
Cost and complexity.
NAD doesn't have locations like retail in each state. Drives up costs to have tax IDs and tax filings in every state. Not to mention legal oversight and insurance oversight from HR to fit state level requirements.
Why spend hundreds of thousands on nothing?
Ask the CEO. He'll likely fallback on 'listen, I'm not going to tell you that remote workers will not be affected because that wouldn't be the truth. But what I will say is that it could happen' . Something on those lines!
Other thoughts; after an IPO Staples doesn't get the money. SP does. Staples won't own the building. SP will. This means Staples will have no assets or cash to operate other than positive cashflow. Then, when one big contract goes away, or a recession hits (and it will), the company implodes.
Think about that. How does a company that has no assets borrow money to pay its workforce in an economic downturn? There's nothing to leverage!
What makes you believe they will target remote workers? Any other details?
on the contrary, every employee matters.
each and every one of you are a DRAG on profit.
haha.