Brian may be trying to sell this "transformation" as being all about the guest, but it's really about the stock and the Board. That's why Black Hat Brian was hired. Don't get me wrong. Target had too many levels of management and there were all kinds of people busy "developing" themselves instead of getting things done. But real talent and institutional knowledge exited last week while upper management and the board remain unchanged. Canada, the breach, and the years of building little fiefdoms happened under the watch of current leadership. Where's the accountability from our humble leadership? The people who left paid one price and those still with Target are paying another. If Target really wants this company to go forward and build for the future, it shouldn't forget the employees who have built this brand.
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You do realize that most employees are also stockholders. If you have a 401k chances are your matching funds from Target are stock.
The stock may be up now, but let's watch it for a while. Wall Street loves a good bloodletting, but in the end layoffs are a short term fix. Brian needs to show real vision in order for Target to continue to be a "buy." When Brian started, there was a genuine sense of optimism felt by Targeteers. Unfortunately he squandered the good will of many Target employees and guests by the way the layoffs were handled. The honeymoon with the board and Wall Street may continue, but the employees have already become disenchanted with their new CEO.
Ever hear about companies that put employees first? The theory is that happy employees create good guest experiences and therefore shareholder value. It's an everyone wins philosophy that companies like Starbucks have adopted.
We are interchangeable and expendable to Brian and the board.
Yeah, let's see how the new TSS handles the tech. Many of us liked the take Bob DeRhodes had on technology and are nervous about the emphasis the new CIO has about using India.
Investing in tech was exactly what target claimed last year before cutting .com which would have provided the backbone for mobile
I put more into Target than any stockholder. Go ahead and call me a moron again, moron.
Stockholders buy stock ..... or more simply put for the Morons, pay Target to provide a return on their stock investment ! The stock is above $80 and that's almost 1.5x what it was when Brian took over. They are making moves by investing in technology, getting rid of dead weighted employees and adapting to the Omni-channel environment. Sounds like they are doing the right things and it's a good investment !!!!!!!!!
I was at Target for 7 years. Every year 'Earnings are soft, but we've squeezed the lifeblood out of most team members, and we had record (or near-record) profits'. And the average raise amount during that time? 2-2.5%. I yearn for the days that corporations were as accountable to their employees as employees are to their corporations. Companies thrive on the Customer/Shareholder/Community/Team, and when one of those is weak, the company will often struggle. Well, the team is weaker than it was last week, and morale will be (is) in the toilet. And Target has not seen the last repercussions of what they did, it will be borne out over the next year or so as valuable team members decide that grass is greener elsewhere, especially since there is no sense of duty to the employees. What Target did to the employees, many employees will do back to Target.
"... happened under the watch of current leadership." So, Steinhafel, Beth Jacob, and Tony Fisher are still Target leadership? Oh, no, they're not, that's right. Three of the people most responsible for the things you mentioned were fired.
The CEO is accountable to the stockholders and not the customers our employees. The board is elected by the stockholders to be the voice of the stockholders. Therefore Brian should be focused on the board and ultimately the stockholders first. That does not mean the employees can be forgotten. If the board is bad, the stockholders need to replace it either at the annual meeting or the means available over the corporate charter.