Have you heard anything about potential Advance Auto Parts layoffs? Any chatter, news or rumors?
18 replies (most recent on top)
Advance laid off over 600+ employees in November 2023. While claiming that these reductions were focused on corporate, this is incorrect. They pared down their field based Pro teams as well. This should serve as one of many signals of their direction.
Advance has struggled to really compete for the last 12+ years. They’ve been a perennial follower in the aftermarket auto parts space. Attempts to penetrate the growing commercial installer space by acquiring CARQUEST/WORLDPAC have fallen short and never delivered the value or results they claimed.
A leadership team consisting largely of former Pepsi employees missed the mark as they had no clue about the auto parts business. They followed their former bias toward retail and misled the company for the last seven years.
Now, as Advance brings in another new CEO, he quickly forges a path toward a “Blended Box” strategy. This is to say that they’ll attempt to serve two ‘masters’ in a single store, single branded, Advance footprint: DIY and Pro. This strategy hasn’t worked for Advance previously and will likely fail again. Execution has been the Achilles heel for Advance for quite some time and will likely limit their ability to achieve results comparable to their peers.
Add to all of this the sale of Worldpac and large portions of the Carquest business, Advance will likely be a company consisting of 85% DIY and only 15% Pro business. All of this returns them to their pre-acquisition market positions. Autozone will continue to dominate them in the DIY space, while Advance will continue to struggle to compete against the likes of Napa and O’Reilly in the Pro space.
In the end, Advance will likely gain $3B+ from the sale of their predominantly Pro entities. Wall Street will expect them to return a good portion of that to shareholders, while new CEO likely wants to reinvest it into a severely distressed company. Interesting to see how that plays out likely in 2024 Q1. Regardless, Advance will emerge a $6.5B company largely focused on DIY, while continuing to struggle in the professional installer space.
Worldpac, a division of AAP, let go approximately 30% of their contract drivers on 9/1 at each warehouse.
Another round comes now
Check Warn notices
I've had a co-worker get "opportunities" for advancement and it seems like there aren't interested in people that can be an RPP and/ or Store manager and nothing happens. my store will probably be the next wave of lay offs. I'm very surprised how there out sourcing to India. I'm sure, it do to Tax breaks and what not. Tech support is completely through India also. Hope to see some positive development from this company. Plus pay is vary low in a lot of locations, I believe they don't update the cost of living versus what the employees are paid.
CEO getting most of blame, what about HR leader?
Stock below $100 this week? It is so sad what they have done to this once proud company. The board and the executive team should be ashamed, but yet they layoff my co-workers who are working their butts off with no support or a plan from incredibly weak leadership which starts at the woke-led director/vp level.
The entire executive team was brought over from Pepsi 5 years ago to move all work overseas to India…leaders were forced to cut US teams and jump through hoops to build teams in India where employees struggle to understand the company…they have managed to loose all the good people left in the company and continue to talk about diversity and inclusion while allowing 100% India campus hiring. Go woke go broke…stick price is looking low these days.
Over 100 layoff announced today.. corporate and IT based on performance and strategic merging of job roles.
Greco unphased.
First time I've seen a company announce layoffs and tell employees to standby for call.
April end of work term for those affected.
100 gone today. Wake up Advance,the ship is sinking
Layoffs are starting today
Announced today. 100 employees in corporate.
Stock (40%) in 12 months.
Entire c-suite is garbage; this is where the layoffs really need to happen.
Board is a joke.
All good employees have left in last 2 years.
Maybe new leadership to pay attention to customers and product vs trying to win ‘most woke company in Fortune 500”
Layoffs coming in April after yearly reviews completed…US teams will mostly be impacted (both business and IT teams) especially remote positions. Bottom performers in AAP India GCC will also be impacted.
April
And more are happening now
I'm seeing a lot of corporate HR folks on LinkedIn saying their positions were eliminated in December...