Have you ever heard about NWF 2.0+ and MVO? More layoffs are coming.
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Im shocked that more people didn't think the writing was on the wall when New World Fossil was originally promoted with those lame ASF training sessions with the game boards with HR back in 2017. Who in the right minds said "well this has got to work" and then watched their peers and some executive leadership bail within the next 8-10 months.
Are you suggesting they will cut out pay 20% but expect us to work 5 days? What about those on 3 days now?
The c-ap part is if we quit because Fossil refuses to pay us a full salary then we won’t get unemployment assistance. This is exactly where Fossil ELT want us.
People are going to quit when they find out their salary reductions are permanent and the extra unemployment runs out.
"Our teams are much leaner today than several months ago, but are functioning well"
Sounds like someone is polishing a t–d.
Kosta on 6/3/20: "we have made the strategic decision to expand our New World Fossil 2.0 program. Specifically, we are shifting a portion of the immediate savings from our COVID-specific actions into permanent reductions.
This is expected to generate incremental benefits of approximately $50 million this year which increases our total savings to $100 million in 2020.
Our teams are much leaner today than several months ago, but are functioning well, even on a remote basis due to improved focus and efficiency throughout the organization. "
Has anyone heard the timeframe layoffs/outsourcing will take place?
I was told more layoffs and outsourcing are in the works.
I was told more layoffs and outsourcing are in the works.
Quote from pave 22.
"NWF 2.0 targeted to generate 200 million savings and is currently being implemented.
Covid 19 pandemic requires us to now expand and accelerate NWF program; implementing NWF 2.0 + , which will be focused on creating minimum viable organization ( MVO)." Savings of another 226 million in 2020.
Massive layoffs are coming.
Check the company s sec fillings
https://www.sec.gov/Archives/edgar/data/883569/000110465920069428/tm2021424d1_ex99-3.htm
Tell us more please.