Thread regarding Acosta Sales & Marketing layoffs

Acosta 2019: Layoffs in Making... Problems left. Problems right... and Center...

Acosta 2019: Layoffs in Making, problems left. Problems right...

Carlyle’s Acosta Preps for Restructuring as Bond Payment Looms
Marketing-services firm has hired Kirkland & Ellis to help restructure about $2.7 billion in debt
By Alexander Gladstone
Sept. 17, 2019 2:01 pm ET

Acosta Inc. has hired law firm Kirkland & Ellis LLP to advise on talks to restructure some $2.7 billion in debt as the struggling marketing-services company faces a looming interest payment, according to people familiar with the matter.
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| 9091 views | | 21 replies (last May 17, 2020) | Reply
Post ID: @OP+116AFAoi

21 replies (most recent on top)

I retired sort of...Decided to collect my social security! Only time I got a raise in 5 years was after a brief layoff my boss brought me back to Fill a part of my route that was taken away plus another route. Got $1.50 raise an hour. Acosta didn’t like that! So they laid me off a few months later and I transferred to another team! Still making $13 an hr!
Month later they tried it again.. my boss fought tooth and nail for my position. And I stay another 2 yrs and said bye bye. They wanted you to do more and more work sending you tons of c-ap to your house it filled every closet and half my living room! They didn’t ask before all these changes! Just sent the c-ap.

So when I quit they didn’t want to come get all the stuff! Told them you will not get the phone equipment back until You come get this c-ap!

Then I took all the emails from the email system and sent everyone an exit email to the upper management telling them how poorly Acosta was run!

I had some fun! Including the CEO at the time!

When I heard they filed for bankruptcy was not surprised they have spent money for upper management raises and bonuses we got hardly anything!

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Post ID: @3Uxoy+116AFAoi

After 15 years I was forced out. Did not even get my vacation pay for 2 weeks on my way out the door. Nepotism was a huge problem. Even with 3 honors degrees in marketing and business I was passed over by fishing buddies and other friends in management social circles never able to advance on merit over these clueless employees. How unfortunate corporate drove Acosta over the cliff.

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Post ID: @1Qzzo+116AFAoi

Over 5000 people have looked at this and only 18 replies? I'm sure thete must be hundreds of horror stories about this nightmare of a company??????

Lets hear yours.

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Post ID: @1Hqgh+116AFAoi

I am a reporter at Forbes and am interested in speaking to people familiar with Acosta's layoffs and cutbacks. If you are interested in speaking with me, I can be reached at 212-620-2335 or nvardi@forbes.com. Thanks.

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Post ID: @1theq+116AFAoi

i worked for Acosta for 4 1/2 yrs. Enjoyed what I did. Had more great supervisors than bad. Had 8 during my employment. Now to the less than wonderful. Once you got away from your immediate supervisor and had to deal with corporate you were in for a less than desirable exchange.
You ask a question that you know the person that you were talking to had no idea how to answer. Then they would read a pat answer or give you the we will get back to you speech. If you were lucky to hear back from them it was not even an answer that had any connection to the question that you had asked.
Then the equipment that was used on a call. If you worked in a city with good cellphone coverage it was ok. But out in the country, where alot of WM stores are, the tablets were just a paperweight.
Then you had to call Tech support. There were some calls that I was on the phone with Tech for over 90 minutes. This was once a week.

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Post ID: @1llrf+116AFAoi

So I'm curious, anyone on this page go from full to part time this year? Were you sent a 2019 part time handbook? PTO time, according to HR was to be 1 hour per 30 worked. My handbook clearly states, in black and white, that PTO time is 1 hour per 13 worked. I've contacted them several times only to be told 1 per 30 worked. Do you think that they should be made to honor what's in the handbook? This again is the way they do their employees!

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Post ID: @17oef+116AFAoi

I wish someone would take the time to list the senior management names who oversaw all the layoffs. That is what should be put out there for all to see.

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Post ID: @17feq+116AFAoi

Explains a lot. Worked for Acosta for 2 1/2 years. Never a raise, but territory and work load became larger! Had nerve to “literally “ grade performance like a grade school child to cover up lack of incentive payments! Truth comes out. They didn’t have the money!! Shame on you, Acosta! Glad I was laid off. Can’t understand why people would go back to company that abuses and lies to employees on regular basis!

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Post ID: @15wle+116AFAoi

I got laid off last year. Received an email stating I had a mandatory phone conference that afternoon with someone I didnt know. There were a few other people in the conference call with me and they told us that that day was our last day and we'd be paid through the week. My direct supervisor and his supervisor had no idea what was going on until I told them. On the conference call we were also told that we could interview and be hired for another position. I applied for one at the local main office, but then found out a week or so later that there was a 'miscommunication' and I was not, in fact, eligible to be hired for another position. Needless to say, the company left a bad taste in my mouth. I'm not sure why I'm getting the notice about the bankruptcy, though.

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Post ID: @13snw+116AFAoi

I was in a management position and my entire team of management plus my supervisor were called in the morning and was told our positions were terminated. As of 5:00 pm the same day we were no longer employees of Acosta. We couldn’t even look for other positions because we were locked out of the websites immediately!

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Post ID: @12tuo+116AFAoi

So I was one of those that was laid off in September. I never received all the money owed me. I guess this means I'll never get it. I've been screwed by this company before and yep they got me again!!! Good luck to all that is left working for this company! They do not care for any of the employees out in the field working their butts off to keep them afloat!!

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Post ID: @12ivz+116AFAoi

I got laid off 2 years ago in sept after almost 17 years. I got 2 letters about the bankruptcy. They didn't care how many years of service you had or how well you done your job. If they decided to lay you off you were called on phone and the person on other end had to read from a letter to you and wasnt allowed to answer any questions. The call I got was probably on 2 min if that. Then they cut me off. I wasnt able to email my people.

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Post ID: @Zeek+116AFAoi

Yes, A few of us that were laid off in Sept just received the letter.

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Post ID: @Yjjn+116AFAoi

Any former employees get a letter in the mail about this ? I worked for them for like 2 years and quit last year , I got a letter today about the bankruptcy !

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Post ID: @Ypvf+116AFAoi

I worked for Acosta for 7 years. Never a pay increase. I was laid off from Purple team. Was offered a position with another team and received a phone call from HR the day before I was to start that they were reducing my hour rate from 13 to 12 per hour! Eventually I volunteered to work part time. Then they kept increasing the territory and work load to full time hours.
Happily I gave my resignation!

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Post ID: @Ylpk+116AFAoi

Chapter 11 - people quitting left and right, people retiring left and right. ACOSTA The co w out raises. Unmanaged and bad to their people crazy place to work. People stay because they are scared to leave!

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Post ID: @Whtb+116AFAoi

This company demonstrates no morals, values or integrity. ACOSTA lies to their employees, monitors their every move, expects you to work like a dog, and many do because they are afraid they won’t find another job. Their BMA’s are all amazing, carry a tremendous amount of weight for the company and are treated so poorly! Company gives NO RAISES, therefore, you stay with this pathetic company, it’s your own fault!

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Post ID: @Wkni+116AFAoi

Who's the id–t that got them into this huge debt ? What a bunch of losers I've been working for. Been with them over12yrs in the field and never had a single raise. Karma's a b–ch.

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Post ID: @Orho+116AFAoi

This means that they cannot service the debt and their banks will not lend them more money. The next step is to look for a cash infusion by someone purchasing an ownership position. If this fails, they will declare bankruptcy and sell off assets to fund the debt. This does not look good as they are not a high asset company. Most offices are probably leased. I cannot see them gaining more manufacturers at this point so revenues will fall.

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Post ID: @8mys+116AFAoi

Does anyone have any news concerning what type of restructuring they are going to be implementing? Is there any firm word on middle management layoffs?

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Post ID: @5hoz+116AFAoi

the carlyle acosta restructuring

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Post ID: @hzz+116AFAoi

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