Thread regarding Staples Inc. layoffs

Question for all of you

Do you think that SP really understood what they were buying with Staples?

I don’t. I believe that SP thought that they were buying a thriving delivery business with growth potential. I don’t believe that they fully understood the complexity or the archaic infrastructure that supports the declining business. I think that’s why they’ve fired the Canadian Ceo, the US Ceo and many others.

Personally I think that JL is an absolute idiot. I met him briefly and he’s the biggest jerk, self centered loser on the planet. His tenure at Loblaws created a culture of meanness and aristocracy. JL is the current problem at Staples. He is so overwhelmed and underskilled that all he knows how to do is fire people. He can’t fix Staples, only Tom could fix Staples and he’s busy rolling over in his grave.

Stephan / Peter... what ever happened to “nothing s changing”? “ this is not a slash and burn”. Cowards. Losers.

by Anonymous
| 1861 views | | 5 replies (last March 18, 2018) | Reply
Post ID: @OP+S9OpPfZ
Comment! It's anonymous!

5 replies (most recent on top)

This is one of the better threads . Not a lot of emotional nonsense . Just the truth .

And the truth hurts .

SP . I have been here a long time . Almost 20 years . You have no idea what you truly bought . You have done a fair job ridding the company of some very talentless people. You still have ways to go. It is a shame really. If all of us weren’t completely disappointed for the last 5-6-7-8 years by the frauds that ran this company , you might have a spirited and engaged team on your hands . But you don’t.

by Anonymous
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Post ID: @6fet+S9OpPfZ

They will find ways to squeeze as much cash out of the businesses (ie. sell all owned real estate [sale/leaseback]) and then take out as much cash as they can to make back their investment. Pay back the loans and unload this P.O.S.

You can also place bets they are currently in the process of recruiting a new USR CEO. Although, I'm sure they are praying SM retires so they can save severance.

by Anonymous
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Post ID: @2clu+S9OpPfZ

I believe it doesn't matter. They care about FCF and how much they can squeeze out of the company.

They already admitted they didn't have interest in SBA so it will probably be sold, along with Canada.

by I STILL DON'T wear RED
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Post ID: @2elj+S9OpPfZ

SP was sold a book without pages.

Now that the book is fully opened, I am absolutely certain they want to unload this piece of crap and that includes SBA.

SBA was the biggest offender of book of business tales.

Salesforce reporting nothing more than nonsense.

SP now knows this and is ticked off!

by Anonymous
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Post ID: @1mup+S9OpPfZ

i think SP got s---ered to a certain extent. i was in a similar buyout and we all knew the balance sheets didnt reflect the true company. many listed assets had been pilfered, parted out or mis-stated. one dude walked through our location and said, "these people make how much!? for that much, we can hire people with real skill". etc, etc. laid off 50% over an 18 month period, close 1/2 of all locations, cut benefits to zero basically. remaining company filed bankruptcy a few years later, screwing everyone on backpay, pension contributions, etc.

by Anonymous
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Post ID: @zyp+S9OpPfZ

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