Really surprised not many posts or comments about layoffs4 at HE
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It's true though. What teeny weeny brand capital Sears has exists in Innovel because it works with third parties (read Costco), Kenmore and Mattresses because of geriatrics clueless about the news, and the tiny bit of A&E because of the same. That's pretty much it. Everything else has been dead dead dead for years. You can pretty much run Sears out of a Mattress Firm with an appliance section for all the stuff people really buy from Sears anymore, and that stuff is dwindling fast. The only reason any of that exists at all is because Sears used to own like 75% of the market, and the customers haven't died yet.
“Competitive Strengths”?
I wonder if whoever in HR wrote that, was laughing at the time or actually believed it.
Either way, it’s insulting, disingenuous and I hope that’s the next one fired.
Eddie Lampert borrows $250 million dollars. Where is this money really going to? Feds need to investigate him.
I highly doubt HR would have said to anyone that it was a "slow liquidation." They wouldn't risk this job or any jobs in the future by saying something like that.
they tried to give the remaining SF crew the same line "We have been working hard to position Transformco for success by focusing on our competitive strengths"
- lol they weren't having it. that line is dead.
Their biggest competitive strength is the ability to lay off a lot of their best employees en masse.
https://www.businessinsider.com/sears-layoffs-his-corporate-workers-amid-store-closings-2019-11
"We have been working hard to position Transformco for success by focusing on our competitive strengths"
Which are what, exactly? How does anyone say this stuff with a straight face?
It's going to be LOL if they force Transform into involuntary bankruptcy. They might pierce the corporate veil to get to Transform HoldCo and even ESL because the were provided with insufficient capital to properly run a business too, there's TONS of precedent to do that. The cherry on top is that if you declare bankruptcy too soon, you lose the carryover tax losses from old Sears, which in theory was potentially the most valuable part of old Sears, if only Eddie knew how to realize a profit.
Plus they are not paying their vendors at this time. Looks like another Radio Shack deal.
Because there isn’t anyone left...there were about 700 after the last round. Now they have to be down to 300-400 total. HR confirmed it’s all a slow liquidation. Just a matter of time for those left.
300 from HE, what do you expect? Huge talk from a workforce prob under 750/1000?