Thread regarding Bed Bath & Beyond layoffs

A lesson from another company

https://www.google.com/amp/s/www.sfgate.com/business/amp/Lessons-in-how-Circuit-City-s-job-cuts-backfired-3298517.php

I joined this comlany right before the 2017 Department Manager M—acre, where almost 1,000 dept managers were laid off. My husband, who had worked at Circuit City back in the day, started seeing similarities as more layoffs happened shortly after their "restructuring".

A lot of companies do restructures all the time, but not to the extent of being so bare bones that customers end up leaving because they get NO support in store, and NO support with their online purchases. The nail on the coffin for this company is their last few "strategic" moves.... laying off their most experienced and knowledgable staff in stores, eliminating entire call centers in June, and now, eliminating most non manager FT positions, and limiting hours & salary for the rest of the ASMs who were they kept.

How can this company survive without its basic infrastructure–its people? Even their online shopping support? Didnt they want people to continue to shop online? Great job, MARK, now you have thousands of customers complaining every day about their online orders. Orders taking MONTHS to arrive. And you expect them to continue shopping with you online? I don't think so. You just lost them to Target, Walmart, and Amazon. Are you sure you're still not under Target's payroll? Because from your actions, it seems as though you are working for the wrong side!

Now, let's get to the stores. Bare bones crew is the best way to describe it. From a customer's point of view, they're gonna see stores either torn up from lack of hours and support, or stores who have staff who are mainly in high school/college students who live at home and don't have a lot of financial responsibility. Of COURSE they're going to get less done because DUH, they're working 4-20 hours a week. Is that enough for them to even care? Even for those who take pride in their work, who make minimum wage, how much work can they do in 4 hours and working 3 days a week? You expect them to do full floor sets, receive and put away, AND be a good help to customers?

Mart Tritton, you are a complete failure as a CEO. And what good did the people you replaced in your executive team do? Sit back and collect 6 figure paychecks as you work from home and cut hours, fire people, and expect to IMPROVE from there? Get outta here. You are the real problem.

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| 1621 views | | 9 replies (last August 26, 2020) | Reply
Post ID: @OP+16CRd1sd

9 replies (most recent on top)

Yup, I saw that. Its a sign that he wasn't fully invested in this company. It was just another multi million dollar deal for him to have the name, fire people left and right so the company can collect more money to look good on paper. They (other board members and investors) are just trying to buy time so they can get their money back from THEIR OWN FAILURES.

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Post ID: @1tqi+16CRd1sd

He took on a board position at Nordstrom’s this past March 2020. After taking BBB in November 2019 . He maybe should try to concentrate on one project at a time !!! Check out his LinkedIn profile.

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Post ID: @1jwy+16CRd1sd

They should have reduced the amount of upper level management a long time ago. Maybe if they started consolidating the district Ops/merch/CS/LP back in 2010, all the levels of regional this and regional that, all the RMs and RVPs and the VP of wiping the CEO's crusty old BUTT, we wouldn't be in this predicament.

Instead, they should have used that money, along with the hundreds of millions they wasted on throw away companies, towards the infrastructure and technology early on. They are now constantly trying to play catch up to other real big retail giants. This is a game that they will NEVER win, because they put their money on the wrong people. Now, the company is too broke to ever match the levels or even be a real competitor for Target or Walmart.

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Post ID: @1vxh+16CRd1sd

Hate to say they shot themselves in the foot. The companies they acquired last decade should have never been purchased. They added no value or ROI. That money (hundreds of millions in cash) should have been plowed back into the stores and getting them into the 21st century with technology. They are now playing catch up with other retailers. Stores have been looking old for years and need freshened up. The company always had too many layers of management. What was the difference between a RM and a RVP other than $100,000 in salary ( don’t know what the difference is, just an example). Will it be too little too late? Time will tell.

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Post ID: @1cau+16CRd1sd

MT was supposed to be our messiah. More like the devil if you ask me.

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Post ID: @ryr+16CRd1sd

Omg i couldn't have said it better. This company is going to crash and burn. Hey Mark, how does it feel to push your company over the cliff? You're a joke

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Post ID: @qdr+16CRd1sd

Boom. Hit the nail right on the head.

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Post ID: @nam+16CRd1sd

Mark Tritton is the Grim Reaper. He's clearly tanking an already dying company on purpose. Selling off our assets, hoarding the cash, and zero remorse for his employees. Sad excuse for a CEO, and human being.

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Post ID: @hzd+16CRd1sd

100%

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Post ID: @kln+16CRd1sd

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