That sounds like good news so does that meant all the mass layoffs Tuesday/Wednesday aren’t credible?
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I think the last poster was spot on : " The big shake up regarding reporting lines, corporate jobs, and strategy will come in a few weeks"
I "think / suspect" how they will play it in corporate is how it went down in Feb 2020 (mass lay off before pandemic). They changed the reporting structure, eliminating titles...therefore eliminating jobs & maybe in some cases Directors got more reports.
I'm not quite sure if they are allowed to do pay cuts, but what they have done in the past is if you lose your more Sr. title & downgraded to a lower title you will not have have room to get raises...you are capped, therefore what you make is what you will make go forward, minus the yearly 3% raise.
And yes, of course for PR & optics Tony has to come out to public singing for the public & earnings call, so some "grand" plan will be spelled out to give hope to the public.
And yes, we may leap one hurdle to have another put up. It will be a slow nerve racking process, not to mention added work load along the way :(
We are all in this together, everyone keep sharing :)
The message tomorrow will be normal course of business store closures, and expect it to be spun that we are exiting poor performing mall locations as we shift our focus to small format stores. We’re clearly not the only retailer experiencing this difficult macroeconomic environment. While there is definitely truth to that, it’s still a hard time for our colleagues that are impacted.
The big shake up regarding reporting lines, corporate jobs, and strategy will come in a few weeks. With Jeff retiring there will definitely be a push to have Tony’s vision and plans for the future of the company rolled out to help combat the negativity of these job cuts and seeing your friends let go. In years past, your VP will be given a playbook of talking points to ease your concerns and have you buy in on the future vision of the company.
We have to combat all of this this with the fear of a potential buyout lingering as well. It’s truly a scary time for all of us, as you could clear one hurdle just to face another as we are landing.
The retail environment is complex and difficult, and our company has to evolve or be left behind even more than we are now. I wish all of you the best of luck as we continue through this chaos.
Will this be normal course of doing business layoffs and store related things - or something out of the ordinary like a percentage cut across the board?
Tomorrow announcement on store closures. After inventory announcements on layoffs. Which means , there will be conversations with HR / individuals not going forward with the ,Company in the next 2 weeks.