Looking back at it, Bob was a decent CEO. Obviously he wasn’t losing sleep over us, but from what I’m picking up he was relatively hesitant to do huge layoffs like these.
And when he did do layoffs he did it all at once. In a single day. None of this “it will be done in 3 phases with 90% of it completed by end of September” bullsh-t.
Were Sheri a reasonable person and kept Bob we still would’ve had a competent leadership. But alas.
This whole thing makes me miss Les.
If the pep boys are serious about saving money they should rock, paper scissors and winner should fire the other 2 ceos. Then start the cuts with all the useless layers of vps and middle managers we have at this company who are already laying on a beach somewhere with no idea what’s even going on with their subordinates.
Question to HR or whoever has knowledge
Does employees who got hired in the last couple of months gets impacted in the upcoming layoffs?
@lgu+1tZy1GkO The criteria for all the cuts was simple. Each division was given a % they had to hit. They were then left to decide how they would meet that %. A cut this big is not strategic its reactionary. The %'s were given out by the Pep Boys.
I think because he had the chance to sell Showtime for $3 Billion to the former head executive of it, and turned it down. Now they are looking to possibly sell both it and BET, etc for less.
Yeah I am in the camp that Bob was decent. Worked for Paramount for about 3 years, saw only 2 layoffs with the biggest one being in February. In the meantime Meta and everyone else were laying off like crazy, and these companies are actually making profit.
Was he perfect? No. I think he should have sold BET and some of his answers during Town Hall were cringe. But at the same time, what other CEO’s even do an employee-focused town halls? Much less taking layoffs questions and such?
In the world of mostly sh---y CEO’s Bob was a good one.
What groups are expected in September? More Marketing and Streaming?
Wait, why are we feeling bad for Bob? He was a huge coward about answering real questions on town halls (including once referring to it as a social experiment) once freaked out and made everyone do a bunch of work because he received a preroll ad for Rupaul's Drag Race. It was because he had watched reality TV before, but you know, homophobia.
1 CEO is certainly better than 3 and better late than never on finally sticking up to Shari near the end, but too little too late.
Oh please Bob is not a nice guy. And he was in charge while the company got demolished over and over. Nobody should miss him.
Everyone saying that Bob’s poor decisions got us there, but these same “poor decisions” consistently reduced P+ deficit and brought up P+ profit.
These co-id--ts didn’t do functionally anything. Bob’s strategy was slow and steady, do these co-CEO’s have any strategy besides consolidating and cutting?
Question for the HR poster, @efv+1tZy1GkO. What criteria is being used to identify those impacted by the September layoffs? Is it salary they make, or performance?
Bob was a nice guy but terrible at his job. Thank God he is gone since his poor choices put us where we are.
So yes, the Sept layoffs are already identified, then.
HR here too!
Actually, you are wrong. The August wave was identified by July 3rd and the September wave by July 31st. The September wave is groups that needed more time in July to identify people. I am in HR for one of the impacted groups. I know exactly what happened and why.
re the comment below. I do not know where you get your information, but it is wrong. The areas laying off people in September don't need more time to identify people. They were already identified and on the lists submitted in early July. If your manager is telling you that info, they are not being truthful.
Golden parachutes do not miss you.
I loved Bob but he is the reason we are where we are. He let Streaming waste money and threw it away without being managed. As far as the timing this was not a strategy it was simply because the business impacted in September needed more time to identify heads. It couldn't be done at once.