Several hundred employees at Compucom are terminated immediately, including heads of business units and senior leadership team members. Mostly impacting US and Canada. Office Depot, deeply unsatisfied with results, continues to punish CompuCom for not being worth the 1bn they paid.
Office Depot continues to overspend significantly on consultants, travel and programs at corporate that do not match with their "zero based budgeting" profile.
I worked with CompuCom from 2011 to 2018 and at that time I watched them cut corners including having data center lockouts for one customer and citing that the reason was that another customer did not pay them.
Very crooked company so I am glad that their profit margins reflect that people realize this. If customers do not realize by now, I feel sorry for them as CompuCom is one of the worst companies I have ever worked for.
I worked for CompuCom for almost 20 years, it was the worst Company to work. Management did not care about people, no raises and bonuses, only more and more work, and people cover very large territories. A lot of people work they lunches to satisfy management to meet SLA , or take very short lunches. Also a lot of people in CompuCom, working for free, because the are doing homework after work to update work orders, or do training, because management asked to do calls, and then training
More blood being shed. More layoffs as of today.
It will end with CC being closed or sold.
All Hands abandon ship.
Don't count on severance.
They don't have an official policy to offer it.
I've been a contractor on various Projects under CompuCom for the last ten years, and the management was worthless and clueless. Getronics was far, far better. I'm glad to see it finally go up in flames!
I was with CompuCom for several years. It was a great place to work when I first came on board. New sparkling contracts and lots of cash on hand to seek out new clients. It just could not maintain momentum when competing with a growing competitive marketplace. Somehow upper management and the sales force could just not bring down the cost of doing business and negative buoyancy since that time has driven the company toward crush depth. The evidence of investors vomit on the floor when the announcement of OD buying CompuCom appeared should have been a red flag. I believe the partnership between OD and CompuCom is about as tumultuous as the marriage between Mike Tyson and Robin Givens. CompuCom can throw as many people off the plane as deemed necessary to lighten the load but the fire trucks and NTSB are already on station.
The CEO (DD) lied to T.H. Lee to get HQ moved to SC.
Selfish execs have run it into the ground.
Just to be closer to their homes. Now all have left.
Such a waste.
How on earth ODP thought it was a good idea to pay 10x earnings for this dumpster fire is beyond belief. That valuation is far beyond anything that even makes sense. Best case, this was a 3x multiple. ODP, you should fire your bankers immediately.
Circle Square Capital sold Compucom to Thomas H Lee, which in turn whined we got ripped off. Then Thomas H Lee sells it to Office Depot that claims they got ripped off. 12 months from now Office Depot will be bankrupt and gone, Compucom will be sold piece meal to other players in the IT field. I was there 27 years through all the buy outsi all I can say is about time Compucom took it's last breath and sunk into the Abyss
It is a sh-- hole that treats employees to low pay and zero raises in turn for work overload.
600 heads fell to the chopping block. That's what the internal rumor mill states. My group lost ~70% of its entire team. This is a serious train wreck with Sr. Office Depot management spewing trendy talking head business speak to cover up the carnage. Sales and Delivery will both suffer. The buzzards are circling. My guess is that this will be a carcass with 2 years. Darwin was on to something! LOL
I have been with the company for 14 years and getting rid of your best employees just doesn't seem right. It's a hatchet job to appease a company that doesn't care about retail. We were told office Depot calls come first and everything was secondary. Lost some contracts for it. Their policy are bad right now and I wish them all the luck in the future
Leadership??? is clueless........They have alienated clients, associates and partners....its unreal what has transpired at a once great organization. More layoffs are coming 300+
Worked at compucom for 13 years. No raises no movement just more work. Move on people you will thank me. The company does not care about its employees.
Good riddance?
Their walk and talk don't seem to be synchronized, expensive wine and spirits for business dinners doesn't add up to a zero budget. Once they curb the VP's from spending other peoples money, they might just make some money, that goes for Compucom as well.
Good riddance.