We all know what this sale to a private equity firm will mean for all of us.
The first thing they'll do is figure out how to cut costs and the quickest way to do that is to implement layoffs.
I'm just not sure how long do we have before it all starts happening, a few weeks or a few months.
Good luck all.
When RAC terminated 250 employees last March - work load got doubled - some departments (if not all) are really finding it hard to complete required expectations. During the merging process, the company might have the realization that we are needing more employees - who knows - they will hire more employees for quality results. Of course, this is just an opinion!
Buddy's and Vintage Capital both office out of the same building.
4705 S Apopka Vineland Road Orlando, Florida 32819
I would expect most of their corporate operations to move to Orlando.
They could make a ton of money selling 5501 HQ in Plano.
Frisco/ N. Plano is booming!
Serious question... why are some saying that rac employees will go when the equity firm owns both. It's not like buddy owns the equity firm resulting in them having a say of who goes at rac.
Look at what happend to Flexi Comras, and you can see what to expect at RAC
Sure it's good for the COMPANY! But once the merger is complete, you won't need two HR departments, or two accounting dept, etc. Certainly don't need to CEOs! Execs will be gone first, then various other depts at the FSC. Store employees will be last. Buddy's will choose to close a few stores if they are located close to each other and competing for the same customers. They may keep the Rent-A-Center name for quite some time. Look for a lot of review and analysis over the next several months. This will be a long process. They will consolidate where they have to. I'm sure plenty of RAC employees will be retained by Buddy's. But face it, some people will be let go, too.
I wouldn't be so negative guys... Buddys is very well run. They may close some of the losing stores, but in the long term I think it is good for the company.
Execs will be gone first.
Not saying you're wrong but dont you think were running thin as is already?
If you're right... I wonder what kind of bs our lovely CEO mitch will say at our next weeks town hall meeting to calm us down before they give us the axe.