Staples may be trying to sell out according to the Boston Globe.
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"Like other employees, he didn't get a single day's severance"
"huge bonuses to the company's top managers as the firm headed toward bankruptcy. "
Description of Bain's "mafia style bust-out" of KB toys.
Once Staples gets bought out the higher ups will cash-in and the regular 9-5 employees will get screwed. I feel bad for all the drivers who quit their new jobs to come back and drive for Staples. It's like ground hog day.
Sounds like Shira wants to be cashed out, collect her winnings and go home already.
the old dudes with 10 to 20 years into the company got the real shaft. the investors drained as much cash as possible in the first 3 years and then dumped the shell into bankruptcy. The old dudes ended up under the federal pension act which only pays like 50% of the anticipated retirement. But they had nowhere else to go, they were trapped like rats on a sinking ship.
Leveraged buy-out. It happened to me once. The "investors" laid off 50% of the employees in the first year and pushed everyone else to work twice as much. I left after 18 months of lies.
And they wonder why morale in the company is in the crapper.
Perhaps, CTO, it's because when you were point blank asked last week in a company meeting if the org was being discussed as up for sale you vehemently denied it. Your best skill: affirmation by denial.
When you look for success, look out the window; when you look for failure look in the mirror. Maybe then you'll see that Pinocchio's nose all the rest of us have seen since you joined. Then again one has to doubt your over inflated sense of yourself would allow that to happen.
Another good article from Investor Place:
http://investorplace.com/2017/04/staples-inc-spls-stock-soars-sale-chatter/#.WOPJNGnyvDc
Looks to be true, hope they screw this up like they do everything else.
https://www.bloomberg.com/news/articles/2017-04-04/staples-rallies-on-report-that-it-s-in-talks-with-buyout-firms