Happy belated Anniversary!
August 17th 2017 Then CEO Steve Temares, in a desperate attempt to justify his salary and “save the company of $16 Million by firing 900 department managers across the country, ripped out what was then the heart and soul of BBBY. Fast forward to today, Now CEO Mark Tritton has ripped out any spine that was left of the company.
Now I’m sure Mr. Tritton didn’t come to this decision lightly, and with heavy heart had to make this difficult decision as I’m sure the email forthcoming from him will state.
You want to impress us Mr. Tritton? You want what’s left to see what you mean it when you talk about turning the company around? Do your job for $1. That’s right, sacrifice comes from the top. Work out a package that when the stock actually turns around and has real value you can cash out and I guarantee you no one will say a thing. That’s what Lee Iacocca did when he rescued Chysler Corporation, that was a real leader!
I know you won’t do it because you not that kind of leader. Your a “what’s in it for me” kind of business schooled CEO.
For those remaining get out of BBBY by any means! Unless you are with the Capital Investment firms and own a lot of stock in this company, you are a nothing, an employee number, a tool. As George Carlin so eloquently said: “Corporations want people smart enough to work the machinery, but not too smart to question what’s going on”.
Good luck to all you hard working people.
5 replies (most recent on top)
Please....all your top management have golden parachutes. Don't fool yourselves. Your new CEO doesn't really care about any of you. All he cares about is attempting to gain fame from "turning the company around". Which is the biggest long shot there is and my guess is that he has a three or four year contract guarantee'ing him a big pay out, one way or another, that will set him up for the rest of his life. BBB is a sinking ship. There is no saving this company. As someone who worked for the company for close to 20 years, seeing it go from 42 stores, going public, stock splits multiple times, to over 1,000 stores and beyond and deciding to leave after the corporate move to NJ, and moving to the vendor side with visibility to all the really strong and dynamic retailers that continue to exist....BBB has a snowballs chance in Hell of survival. Get out while you can. Take your severance package and move on!!!!!!
This is an epic post - thank you OP
What ST did 3 years ago pales in comparison with this. 2,800 people gone today.
I left the company a year and a half ago. At my current job, the CEO made the decision to have ZERO salary for 90 days. He did this after they decided to cut everyone's salary by 20% for the same time frame. This was across the board, including ALL executives, right down to hourly associates. Now that's what I call leadership.
I work at Advance America now, and although they have their own issues, they actually do show they care about their people. Yes, sacrifices have to be made. But success will not be in your favor if you force those sacrifices on other people, but not yourself.
Mark Tritton and whoever the hell is in your circle now.... my advice is put your money where your mouth is. If you really do believe in this company, SHOW people that you care and don't just spew some BS about how "we're gonna make it through this together."
Steve Jobs also took a $1 salary when he returned to save Apple. One thing’s for sure, MT ain’t no Steve Jobs, he’s more an Eddie Lampbert.