Will cuts continue?
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More cuts are coming, this is far from over. More layoffs are to come at all levels at the CSC, you may have made the first cut but there is a second and maybe a third wave coming, a second at the very least this year.
Ray is tearing everything down, every area and work group at the CSC is not safe. The plans are in place. He doesn’t care about seniority, loyalty, honor or decency. He is a fake. Everything that comes out of his mouth is either a lie or for his benefit to cover is master plan of dismantling DI-KS and starting over. No one is safe under his regime.
The worst part is more are to come as the 2023 year ends. He doesn’t care if you have a happy holiday season as long as he does. The plan is to cut more work groups at the CSC, some work groups will be dismantled as a whole.
Lauren, Ed and Ray have all played their roles in this plan. This plan started as far back as the end of May. Good people have been threatened with their jobs if any of their plans are leaked. This, as everything in this post, is a fact.
Remember this post when Ray or one of his colleagues announce the next layoff. He is heartless.
Next steps that I got a glimpse at and I saw them begin planning h this all in June.
This first step Monday was spot on with what I saw.
Next (only saw the field)
Going from 8 RVP’s to 6 might be 2 new RVPs replacing 2 of the current ones based on I assume same rationale age and salary.
Major reduction in DM head count, 1 DM over essentially 3 markets and an additional option on top of that being considered is 1 SM in a market overseeing their store and also 3 others.
I know more cuts were coming to the L&D team for certain but didn’t see that plan. There is a plan to do some what were called “service roles” in the field in 2024 Ala Best Buy. Rays best friend from College is now a paid co sultans working on that. He has a failed closed down website, but we are paying this guy. Wow.
I will never forget the Di-k’s Sporting Goods motto I heard in my first week here so many many years ago. At Di-k’s Sporting Goods we will trip over dollars just to pick up pennies.
Be well everyone I hope you find your next forever job.
If you listen to the earnings call, right around the 19 minute mark they talk about the cost with the current layoffs but then mention they haven’t yet committed to anything but expect another 25-50 million in future reorganization coming in 2023. This isn’t over is what they are alluding to
I do not doubt field cuts next. They did this before with corporate level cuts then reassured everyone else was safe only to learn that wasn’t true weeks later.
They Announced today after the one time $20million charge for yesterdays lay offs, they expect an additional one time Severance charge of $25million-$50m for the remaining re organization in 2023.
More corporate busy mostly the field is the next phase and it’s going to be massive.
As bad as the stocks are, wouldn’t be surprised if there were more.
I was told that there would be no more layoffs, that yesterday was it.
Apparently they want contractors because they don’t count as headcount. So less people makes the company took better. They can be let go easily since they are temp. No one is safe at this point.
No. In August 2017 they cut more than half the store side LP just weeks after the initial corporate cuts and after several calls of upper management assuring no more cuts were coming, which I believe management probably believed. So no, unfortunately their word means very little right now if they claim it’s over.
Get out before they do it to you too
Is there any way to be sure it's done?