The stores impacted have probably been advised within the past 2 weeks. It's my belief that the majority of the associates at the closing stores will probably end up unemployed; even those who have been with the company for years. That's big business.
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Unfortunately it is good business. Most of Phase 1 closings on November 15th are real estate moves. Where Depot is able to get paid cash to end a lease early because the property can be turned over fast by the landlord. Almost all full timers will be assessed in districts. If they are better than the person at a sister store and if they are willing to move, they can be offered a position at a different store. The idea is to retain as much talent as possible. The part that really stinks is the people who don't see or know they aren't better than the person at the closing store and then get a visit from the grim reaper District Manager and get told they are out of a job. At least when you are in a store that is closing, you know months in advance and can start the job search process. Phase 2 will be next Feb/March and will have some real estate aspects but mostly performance based closings. Phase 3 next November will be half lease endings, half performance based. Start asking questions now to District Managers. They are having the real estate calls every month. Ask the status of your lease. If you are on a month to month lease, be concerned. If your comp is below negative 10%, be concerned. Word on the street is 450 stores to be closed by dec 2015.
what stores are closing? what stores have closed?
That is bad busineaa, nothing to w/being big