Do you really think that executives are that stupid to leak info about layoffs in St. Louis.
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I noticed that Vanguard Group is the largest institutional holder of Emerson stock. Then I found out that the company's 401k match is in company stock. Bet dollars to donuts that Vanguard Group administers the 401k plan. I wonder what the stock price would do if the match wasn't in company stock. Less regular buyers would almost certainly mean the price would drop. Sounds kind of Enron-ish. Guarantee the executives would cut more costs to prove to the shareholders that they are containing costs - they probably are going to do more cost cutting anyways because they doubled down on oil and gas with the Pentair purchase with the assumption that oil and gas prices would get back to $100. Who buys the stock other than the employees thru their 401k retirement savings?
Sorry to hear about that operation...but that's Emerson. Innovate by acquisition, maximize cash flow while the value of operations diminishes or at best treads water. The primary reason shareholders buy the stock is to get the dividend but the stock price barely increases beyond inflation (probably only because the stock buy back) which leads to why Emerson needs to maximize cash flow: to pay the dividend and fund the stock buy back program. Plus they have to employ an army of sales and marketing types to control perceptions. Sounds like a ship with an increasingly large concentration of rats...time to throw the towel in and let the rats gnaw the limbs off each other. Best of luck to you!
Nearly 500 hourly employees when I was younger, now numbers have dwindled to less than 150. Multiple layoffs since mid 2016 at the Columbus, Ohio facility. With nearly 20 total years working here, I am just a few weeks away from layoff myself. Management fails to recognize the very people who assemble their units and continue to place favorites in job saving "created" positions regardless of qualifications/seniority. Incompetent HR department. Shameful!
Yeah, Farr stated how great the new thermostat offered by Emerson by saying that "he" installed something like 3 to 5 in his house... Probably had a line of the typical brown nosing middle and high-level Emerson managers outside his mansion hoping to keep their jobs by installing them for him. Who lives in a house that requires 3 to 5 thermostats? David Farr does because he's living the dream!
Yes, they were that stupid to ruin a once great company. Farr is circling the drain...he is throwing everyone overboard trying to save himself. His arrogance has destroyed so many careers and lives. Shame on the board for continuing to allow it.
already happening...my brother-in-law has been with the st louis company for 23 years...he got told today