Thread regarding Sears layoffs

Another earnings announcement...another reason to be nervous

I have to admit to being nervous every time earnings announcements take place. Like clockwork, layoffs and store closures take place. It's not an if, it's who and what. I was thinking today: what if they do away with my position (Hardlines ASM) only to replace me with two low-paid leads, like the have done with most softlines ASMs throughout the company? What if they take away commissions for consultative sales throughout company, driving away dedicated and experienced salespeople and replacing them with bored high school kids that have no drive or passion? I have a feeling that those actions (and others) are pretty much on the horizon. I have too many scenarios I have pondered about the "what if's" to list.

It also seems as if some wacky idea that will "save the company" is introduced during or shortly after each earnings announcement. Another process, business unit, program, group, initiative, metric joins the already long list of things.

All I know is I am tired of the uncertainty. The end game is that Sears and Kmart will be gone, that's for sure, its just the matter of who is the next ember to fall. I'm keeping my fingers crossed to jump ship soon...things are looking up. I wish everyone else the best of luck. Hang in there.

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| 962 views | | 5 replies (last May 26, 2016) | Reply
Post ID: @OP+HAc4gSS

5 replies (most recent on top)

Almost everyone of our employees are looking for another job (Walmart, JCP, Target are hiring starting at $10) some are just not even showing up for work they are so feed up. Hours cut to next to nothing, only thing they do is unload truck and stock. NO more incentive to do a good job, to have pride in your job, managers and DM's yelling about every little thing. What a joke. Amazed they didn't lose more, or maybe it is just a little creative accounting. CFO quit or was fired. Even he sees the writing on the wall

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Post ID: @idv+HAc4gSS

As a commission sales person in the HI department,after working for Sears for over 30 years,it would almost be a blessing if commissions were taken away . Even after all the years and service I have with Sears,I am paid the same thing as the "bored high school kids" you spoke of,and sales are some things just plain luck of the draw. With no hardware cashiers to do to do the tasks as credit payments, take Land End on line returns,ring up all the non commission items that come to the cash wrap,it is not easy to make much on commission anymore . in my store the registers in Fitness and in Lawn and Garden were removed,so the only register we have are at the hardware cash wrap, so it can be very difficult to get away from the cash wrap to help members looking at big tickets items. As you are trying to sell a tractor, someone is yelling at the cash wrap who's going to take their credit payment when there is cashier. Somedays I really dread going into work,depending on how we are staffed,especially on truck days,it now takes us up to four days to get stock put away. I am so tried of hearing about KYM and Shop Your Way,and Recaps are going to save Sears. Now for some reasons PAs are the current focus.

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Post ID: @krd+HAc4gSS

Here's the link: https://searsholdings.com/press-releases/pr/1971

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Post ID: @bcg+HAc4gSS

Apparently it is predicted "The Hoffman Estates, IL-based company is expected to reported a wider loss and a double-digit drop in revenue.

Wall Street is anticipating a loss of $3.20 per share for the latest quarter, larger than the $2 per share loss that the company reported for the fiscal 2015 first quarter.

Revenue is expected to decline by 10.5% year over year to $5.26 billion for the quarter, compared with $5.88 billion for the same period last year."

I can't believe its that bad, even after 2016 was supposed to be "highly focused on returning the company to profitability".

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Post ID: @orv+HAc4gSS

Earnings on Thursday, layoffs on Friday...?

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Post ID: @oyl+HAc4gSS

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