Any thoughts?
Considering Staple's lawyer did not even mount a case and simply requested a ruling based on how flimsy the FTC's case was, many are predicted the judge will side with Staples.
I am for whatever would salvage the most jobs, but Ron and Roland seem to be all about the big payday.
What is the feeling at OD? Doomed either way?
"You WILL be placed on PIPs, if they just don't out right lay you off"
It's a split decision.... PIPs usually take 90 days and there has to be some semi legit basis for it - a bad annual review, sales down multiple quarters, etc. But they can use this to keep stores staffed while they close them down. The up side (for them) is no severance and they can contest UI. Bare in mind, this has already been going on at Staples for a couple years, so DMs and HR are skilled at it.
As far as immediate layoffs, I would not be surprised if Staples has coordinated with OD to have a plan in place for what stores they want to close and the process will be ramped up quickly. They are ruthless that way, but then again, the execs are lazy too so maybe not.
Buy out or no, it will be a sh---show either way. If it fails, Roland will probably take a big chunk of the $250 million Staples will pay. Very little of it will go to any store level improvements. It may take longer, but as far as the retail side is concerned, it will be the same result, closures and layoffs.
The buyout will not "save" either company. Staples only wants OD's commercial book, it does not want the stores. Retail divisions in both sides are basically screwed, it is just a matter of time. Neither Ron Sargent nor Roland Smith give a sh-- about anyone but themselves. They are both looking for a big payday, that is it.
Guys and gals, this is a coin toss. Whatever scenario plays out, I hope you have your resumes in order and are ready for the fallout. If this goes through....Staples WILL get rid of you, like they did with Corporate Express employees post merger. You WILL become the ugly, red headed step children. You WILL be placed on PIPs, if they just don't out right lay you off. If it doesn't go through, your still doomed. Staples WILL have a $250 million dollar chip on its shoulder and will do anything to take business from you.
Sincerely,
Happy to be out
Staples will Crush OD if it goes thru. START PACKING