google.com/search?q=ELLIOTT+site:TheLayoff.com
13 replies (most recent on top)
“sale is about money , payouts and saving pride for the long time management.”
Once industry , respected businessmen, the Riggios, showed their true colors. For years posturing that their employees were family. And extraordinary Cust service !
Now it’s about firing your career employees who were the foundation of your business. Slashing hours to the bone ,which affects customer service , and collecting a huge payout dividend.
Once honorable leaders. Now a disappointment to the employees you abandoned ,after they helped your dream become a reality. Once a top business leader, now a joke on the business world !
Your ancestors are rolling in their graves.
I understand the concern from the long time booksellers who love books and have found some comfort in working at a bookstore ; as it is definitely not typical retail.
Unfortunately the company has no concern for anyone (especially Store staff) and this sale is about money , payouts and saving pride for the long time management.
If there are other bookstores in your area like BAM , Powell’s and /or Museum bookstores , start applying . Retail at store level , no matter what company , is a low paying industry and turnover is high. High school and college students are reportedly staying away from these type of jobs during the summers and the school year; therefore there are more jobs available for career retail folks. There is no reason to stay in a company that treats its long time staff with disrespect and indignity .Even if you want to stay because it is comfortable for you and you will await what happens , you do deserve to be updated on what it going on and how it will affect your specific location.
I'm sorry that your incompetent managers can't discuss this openly and honestly. It really wasn't a big deal around here. Even the SM had some misgivings but it was discussed honestly and as neutral as possible. Personally, I don't think it's time to shout "the sky is falling" just yet, but at the same time no one should ever be naive enough to think that their retail job is "secure" in this country and this economy. There's no such thing as job security when you can be fired for any or no reason.
“Seem like MGT isn't too happy if they're responding like that.
Bet they're all scrambling for new bad retail jobs.”
I sure AF hope so !
😂
Seem like MGT isn't too happy if they're responding like that.
Bet they're all scrambling for new bad retail jobs.
I tried to bring up Elliot at our morning meeting too. I’m trying to discuss our livelihood at Barnes, and all our manager wanted to talk about was the sunburn on his bald head from his pride march.... Got to have your priorities.
“No wonder no one from mgt is talking to us. Is anyone going to bring this up at a morning staff meeting?”
I brought them up at the morning meeting today. Manager shut me right down. Afterwords he called me to his office. Told me he didn’t need my kind of negativity. If I was not happy leave. I told him I was concerned about the future of my job. Told him I felt I had a right to question things. I was told, and I quote “just do your job and shut up “
If your still there you obviously don’t care . So , when it happens , don’t be surprised. Been telling you hangers on to get out for a long time. Those thousands fired last year were lucky. They got severance money. You’ll get NOTHING.
No wonder no one from mgt is talking to us. Is anyone going to bring this up at a morning staff meeting?
They also try to load you with debt. Then they take money from that debt and pay themselves for the investment. So they get all the money back and they destroy the company.
Ebay, Citrix, Windstream, SAP, Qualcomm, RiverBed, AthenaHealth
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Trail of Distruction
Just check out Elliott Management's record of forcing companies to do mass layoffs - they want to free up cash flows to pay themselves - check out layoff pages here on this website Cabela's, Citrix, Alcoa, Quest and others that Elliott is destroying. They will load us with debt and sell. Time to go.
2 years ago by Anonymous | 1642 views | 1 reaction (+0/-1) | 1 reply (2 years ago)
Post ID: @PUR1W1J
1 reply
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I worked at two companies where Elliott came in. First they buy a lot of stock. Then they force layoffs to cut costs and improve earnings per share which they hope will increase the share price. Once the share price goes up enough they sell out and move on. This might take a couple of years. They might broker a deal to take the company private then they will milk the revenue stream. When it is private they will cut costs more to get more cash and then they might take it public again to cash out their stock. In any case it's not great for the employees.
2 years ago by Anonymous | no reactions
Post ID: @PUR1W1J-oyz
Ebay, Citrix, Windstream, SAP, Qualcomm, RiverBed, AthenaHealth