Start looking and get your resume updated. A Framingham meeting Friday has sparked conversations regarding downsizing over the next 45-60 days
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Well that didn’t take long at all. Good ‘Ole JL said “no more layoffs this year” on Dec 22nd. He kept his word for 9 days and then came 2023. Less than a month later BAM, more layoffs of good people. Leadership at the highest levels are making the same decisions multiple times each year. They have a math problem and it’s the only way they know how to ‘solve’ their issues. They simply can’t compete with the competition, even ODP has a stock price over $51 right now. I was there when we thought that we were going to buy ODP. Our ego was a little too big and we ended up writing a check to them for millions of dollars when the deal fell through. Staples hasn’t been able to do ANYTHING right for a long time now. The ship is sinking people. JL can’t have a performance review that says anything other than ‘Does Not Meet Expectations’. Time to go Johnny Boy.
Reorg was Wednesday. Heard HiTouch was affected.
Is the reorg coming Monday
There were layoffs in November 2022 at Q business unit. More coming?
There was lay off in November 2021 right before thanksgiving.. once I saw that I decided to leave and left staples for good in March. People who commented there were no layoffs in years, I don’t know under which rock they are living..
there hasn't been layoff in years now
If the losses are more brick and mortar than delivery, there will be store closures. There's no way they can cut staffing numbers in the stores any further without having to close up retail stores.
Delivery's at bone as it is.
JL said, “No layoffs this year..” That could be very true but there are only 9 days left in the year. What will NEXT YEAR bring?
Im sure there will be cuts in jan and restructure of retail with less dms and leas full timers
Retail or NAD? JL just said no lay offs this year
yup
staples owns essendant. SP doesnt need 2 failing ofc supply companies
You have a good 6 months or so before the real cuts take place. Sycamore will make drastic cuts when they believe they can IPO or find buyers for pieces of the business. No single buyer wants Staples, so either they will IPO and hope institutional investors bite or chop up the business for some other private equity firm to take pieces of it. In either scenario, massive job cuts.
The vast majority of all office supplies are ordered online. Future doesn't look good for brick and mortar.