Watsco is laying people off due to a lack of sales, high inventory due to a lack of sales and terrible leadership decisions. Losses so large that executives are running for cover and making excuses to keep their positions. More vice president positions have been created than actual jobs requiring tasks to be completed.
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Absolutely true. I was laid off in May of 2023. I helped build my branch up to the the point we had the highest earnings on the eastern seaboard. That is until they removed all of the HVAC equipment for about a year, and then subsequently sending equipment back to our branch to be “stored” while prohibiting us from selling it. I was promised raises and promotions that I never received. Horrible leadership.