Also, once they announce, do we expect another round of massive layoffs to hit stores? How about the corporate office? On what date is this going to happen and who will know?
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Some of us fools actually deserve that bonus.. Most GM's and AM's worked our butts off for that bonus. Working 70-80 hours a week because we have no labor and a large work load. I have probably spent more money buying liquid armours then my actual bonus will be in order to save my job and I know a lot of the other store managers have done the same. There is very few jobs in my area or I would have jumped ship a few years back.
The bonuses they are paying this year are more than they paid last year. The company lost more money and they are rewarded. How creative is the Staples accounting office? Wow. Make more happen.
"giving bonusus to all the fools there"
At this point, they know the company is screwed. It is just a matter of milking it out as a blatant money grab for the execs before the pull the springs on their golden parachutes. Everyone one else will just free fall until they splat on the ground.
Get out now.
And the are actually giving bonusus to all the fools there. Guess the company doesnt have to do well at all to get the extra money.
Not to worry! FM will ask Watson for a solution and all will be saved!!! I bet it includes buying ebags so he can profit on another purchase of a company he has in interest in. FoF my eye. More like F'd by F.
New team (not really), same old ideas.
If they were serious about a "new team" they would have cleaned house at the SVP and RVP levels.
Keeping these fools in place just shows that they will continue on the same path - undermining stores by not giving store teams what they need to succeed and then blaming them when they fail.
I can't believe it's only 70 stores this year, that's probably projected by leases ending. If they can negotiate terms for breaking leases I am sure there will be more closures.
Really? A net loss of $615 million and this is what the CEO expected? The slide with the new team was supposed to garner some reassurance that the ship is turning. That did not help. This ship is sinking fast. Wouldn't it be better to sell the company and salvage what you can? Every year the earnings are down. How is this acceptable? It was apparent that the board was not serious when they did not go outside for a CEO. Then the new CEO appointed internally for the CTO. This company needs new ideas and new life. Promoting a lifelong employee is not going to give you new ideas. I suppose the board had already given up by that point.
Earnings show $18b in sales for 2016. Remember the days of 30 x 10? ($30 b by 2010). Apparently the strategy of having a million items priced well above Amazon isn't working. If Staples doesn't Invest and innovate to create a powerful customer experience in its stores it might as well admit it's an on-line and b2b company
ho
lee
f--
"a net loss of $615 million, or $0.94... for the fourth quarter of 2016 against a profit of $86 million... for the same period last year. "
staples was still profitable when I left.
oh well. :)
Shira et. al. YOU LOST A BILLION DOLLARS MORE THAN THE SAME 4TH QUARTER PERFORMANCE LAST YEAR!
This isn't about right team, new plan, closing 70 stores. It's about your liquidation sale.
One more time >>> a $ B I L L I O N loss.
Anyone still feel those bonuses are secure?
So what the announcement said was we lost money again this year and failed even more but we have changed up the team and better luck next year. It sounds like the same thing being said over and over every year. It is not a profitable model any longer. I am selling what stock I have left and investing in something worthy. What a joke.
Such an awful company. Today's earnings announcement makes it crystal clear.
" we have the right plan and the right team "
Except you do not, Shira.
VS and MD are idiots, thugs and bullies. Same with OP.
You set stores up to fail, and then blame them when pre-planned closures occur.
“Our fourth quarter results were right in-line with our expectations," Staples chief executive officer Shira Goodman said. "I’m increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth."
They will never admit their failure but are quick to point out our's in this awful environment they created.
"profitable managers/stores got totally f'd out of their bonus"
I lost a $15k bonus that year. I worked 70 hr weeks to make a severely under staffed store run right, all I got was to be F'd over. I started saying F it and just did 45 hr weeks, figuring I'd never see another bonus at Staples.
But at least I got 5 PTO days and got to watch Demos lose it on a town hall when asked about executive bonuses. That was special.
They are out today and the results are horrible. Better find new jobs soon because Staples will be closing its doors.
I'm snickering as I watch the HR trolls being outed. This is what these limited, FAT, BEER guzzling, dic---ads have been reduced to. Can I guess their name too? Can we play a game?
@Ma6gniz-1tub You seem very trusting. Maybe too trusting. Do you also remember the screw job when they invoked the never before noted clause... 2013. Some ultra profitable managers/stores got totally f'd out of their bonus. One I know of personally lost 30k in bonus...was invited to the Top stores trip to the Caribbean. He went knowing that he was being screwed out of 30k. Gave his notice one week later.
So like I said, you seem a little Too trusting. Kinda like HR... Should I try to guess your name?
Email from HR saying payout date is April 13th.
If you earned a bonus, it'll get paid out. I was let go from corporate during 2015, and got paid a bonus the following March.
Another post alluding to bonus payouts being pushed back. Every year Staples has paid annual bonuses in mid March to end of March. Why would this year be any different? Can anyone definitively confirm anything about the timing of the bonus payouts? All we hear is rumor and conjecture. I do agree, though, that if they fail to pay bonuses out in mid March to end of March (like usual) then this is a BAD sign for the company. Can anyone weigh in with any definite information?
Option 2 is they want to hold onto the bonus money until after 1st quarter. Also a VERY BAD sign indicating that the piggy bank is starting to run dry.
I believe the wording on bonus payouts is usually something like "must be an employee of record at the time of payment", so yes they could potentially fire you a week before you get your bonus and tell you to go #SALT .
And since we know they are completely dirt bags, I'd expect it!
March 9th earning are announced.
They supposedly pushed bonus payouts back to May. So either they don't have their s--t together or they are planning to let people go after the earnings announcement so they do not get their bonuses.