How horrific the morale and the culture of this company is. The old administration beat down on its employees while they created layers of useless positions that manage nothing. The company has never given their management team the actual ability to manage. There is an HR cesspool that makes it impossible to function in a constructive managerial style. There is no pulling this company out of the manure that has been created. BBB should have closed 500 stores 5 years ago. At very least, they should sell Buy Buy Baby and Chef Central just to make a “no nepotism” statement. If Tritton can actually turn this around, he should change his last name to Houdini.
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The difference between being proactive and chasing your tail. Trimming the store count years ago would have made perfect sense. Marginally profitable stores aren’t worth keeping when that money could’ve been deployed in technology. Not to mention the most obscene stock repurchase in the history of stock repurchases.
Wall Street as well as shareholders do not care about employee culture. They care about $, profits. Period. Yes the bbb culture is poison, brutal, misogynistic and toxic. This will not change. Get out.
There is more to simply closing stores. There is an abundance of trimming that needs to be done in corporate as well. Pinning this on stores and store personnel only is not fair. Way to many people in corporate spanning all departments from HR to Finance and IT that skate by somehow doing nothing and not having a clue. These people make way more than the ASM's, DM's and DT's and in reality do a lot less work. Pull back that curtain hiding what is actually going on in HQ and watch the sh*t hit the fan.
500 stores?? Are you insane? There are not that many unprofitable stores in this company especially 5 years ago. Recheck your self. Sure we s— right now but I don’t think a fix is impossible.
I do see another list of closures around the corner that he hinted to on his call.