People from across multiple teams being let go today.
7 replies (most recent on top)
It's very sad how Fossil has lost their way. While they brilliantly acquired brands to fill all niches of the fashion watch market and expanded internationally, they totally lost sight of their core brand. A Fossil customer doesn't buy a $300+ handbag....leave that to other brands. A Fossil customer doesn't want a pave encrusted watch face in a hideous color....leave that to others brands. Perhaps the branding and design dept should be the one to see the heavy layoffs! Even this knee jerk response to reduce expenses. There were eliminated positions that will most def hurt sales both short and long term. I'm seeing a real leadership issue with decisions by upper management.
Hope this company gets back on track as they were a respected brand.
I could not have said it better than formerfossil - terrible way to treat employees that have been with Fossil for so many years and have worked so hard - makes me wish I would have not spent one minute (let alone entire weekends) working overtime.....really stinks.
Definitely not over. Will probably be more layoffs coming soon.
Many of my good friends were let go from Fossil Group on 3/3/15 due to "position eliminations". These eliminations were NOT based on performance, it was simply to cut headcount and save money. I can count numerous who had been there more than 10 years and many that had been with the company close to or over 20 yrs. The CEO Kosta pretends to care, with choked up speeches, but he is a puppet to his board of directors and does not really care about the employees. He could have saved anyone from the list he wanted, and did not wave a hand to stop the laying off of loyal employees to Fossil. "Outsource it" they say. It is disgusting and not the company I used to know them as. So what if people got a severance? They still deserve better than what they got. What are people supposed to do with their lives after putting in their entire career in a place they thought cared for them. The managers did not even know who they were going to lose, as Directors and Managers were also dispensed without prejudice. It is now up to VP level to "push the buttons" in some cases now - and let's be honest - VP's aren't the worker bees. I'm so fortunate to have left that place not too long ago (after pushing towards 17 years) as it very well could have been me lining up for unemployment. I'm sorry for those who are now left wondering if they are going to be able to find work. For those who are there still, start looking elsewhere because you still aren't safe.
unfortunately, they aren't letting go any of the people that need to go...
What kind of business is Fossil?
Is it over? Is it specific departments?