What a sh---y culture. We already know what local leadership thinks of us. However, it would be nice to know the same at each level and up. Just goes to show the lack of respect this company has for team members. Let’s try putting people before profit and let’s see what happens. Cause clearly, what you are doing now isn’t working!
An excellent point, bumped frm @wyo+1ep6hpIl.
Any company that lays off employees by the masses and then contests their unemployment, is not a company that puts their people before profit.
@1bxa+1eyNfdrT at least just admit you’re a family member. This company is run like cr-p because of family plain and simple. Those of us that have been here for awhile know we cycled through inept family members leaders who paid ever increasing dividends despite declining profits and the obvious decline of an industry lacking any serious innovations. They were playing their fiddles while the entire industry was burning to the ground. Then they brought in MLS and the family controlled board established the dividend as her key priority instead of transforming the business. Then they hired RG who just did whatever TL said as long as he got paid while leading the business into a sea of losses. He got paid big big money to leave the company with negative net profit. A loss on the bottom line but boy we were still paying dividends. Then they hired PC and the same family controlled board fought anything that wasn’t about about cash generation for the family somehow deciding to turn the company over to TL. We got the music theory major whose biggest experience was selling class rings and partying while FLS ran itself. The result? The dissolution of a 100+ year old company. The family led this company into this demise. Take responsibility and quit blaming the help.
With the lack of effective strategies, the company will more than likely be dissolved.
I agree, the executive suite is full of incompetent leaders. And how the family has allowed this incompetency to remain intact for so long is just mind blowing. Especially, if as you claim, no dividends have been received. Unfortunately, I too see this company soon being divested or even dissolved.
So the family has not been paid dividends in years, but employees have received raises and bonuses. Maybe what you don’t realize is that this is a private company and the family cannot sell their shares like a public company, I learned this as an employee shareholder. This means that they can only hold out for dividends or a sale. If you had an investment, say your 401k, and they said you could not take your money out, it will not increase in value, and we won’t pay you dividends, what would you say or do?
Also, let’s talk about how this company was family run, and successful, until they brought in the first outsider. MLS was the start of the end. Before that, family lead and it was profitable, and what you all call the golden days money and moral wise. Going back to what was said above, these division sales are driven because leadership has performed worse then a 10 year old selling peanuts at a peanut allergy convention.
Give it a few months (or a year) and I am sure that FHE will be in the hands of someone else. And then, be ready because the grass is not always greener.
Sorry, too late for that. Family ki---d and ate the goose that laid the golden eggs (FSS), the rest is being set up as a collapse that can be written off as a tax loss and the Family owned business is done in 5 generations.