I was called into my SM office today and was informed of my tenuous future with BBB. I'm still employeed but have to step down with a pay cut or take my 14 week severance plus PTO and leave. Hours later I received a call from my DM telling me that I'm being considered for a SM position. I have to let them know on Friday if I intend to stay or go. My interview with my DM is Monday. If I stay I lose my severance pay and am not guaranteed that promotion. I have no idea what to do. I'm scared they are trying to trick me out of me severance to save money. Did anyone else have this happen to them?
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I wouldn't trust it!! BBB will file for Chapter 11 and they haven't touch store managers yet, but they will eventually....take the severance.
If they won’t pay you what you deserve and yet they are telling you they want to promote you?? That tells me you are better than this! Take your severance and look for a managerial job at a better company knowing another company would be happy to have you aboard.
Take the package and get out while you able to. I was let go in July and shafted out of my severance and nearly 350 shares of stock. Basically 15k. Good bye BBB.
Even after all these job cuts, BBBY is still a bloated company. When was the last time that growth and Bed Bath were mentioned in the same sentence? It’s a different world today than the day you were hired. There are tons of former bricks and mortar management people out there without a job. Take the severance, and as hard as it may be, consider a career change- particularly if you are on the young side.
16 years in here.. No call yet but out on LOA currently. Praying for the severance offer!!!! To the OP take the money and RUNNNNNNNN! Remember you can also work another job when taking severance with the ability to double up during that timeframe!
Call your DM and tell them you cannot make a decision about staying or leaving until you know what position and at what pay. He/she will need to interview you and make a decision within the 48hrs or they need to extend the 48hrs to accommodate their decision on the SM position. Sign nothing until then. (I wouldn’t take a DS position for a possible SM position in the future)
If the offer is legit, they will do this for you. (BTW the DMs already know who they want to have as SMs w/o an interview)
The job market is tough and if you want an SM job anywhere, you need to have held the title. If you get cut at a later date, there will be severance offered again.
For the sake of your mental sanity and lowering your stress level, please, and I’m talking from experience here, take your severance and move on to better opportunities!
I understand your scared, the day I quit I was too; but after giving my store manager my notice, it was like a ton of bricks was lifted off my shoulders. You will feel the same trust me.
BBBY gave you great experience to talk about in job interviews and I’m sure you’ll find something fast because of it.
Good luck to you!
You don't know how long your dm will be around. I've been skipped over on promotions before simply because my higher-ups quit or were wiped out and the next person didn't even know my name, or brought in his own. Just something to keep in mind.
I worked there for 16 years at a District level. Anyone reading this run don't walk to the door especially if they are offering you severance. They are circling the drain. It's not a trick. They are trying to lower their expenses to look good on paper. They are letting go key positions that will guarantee their end. RUN don't walk out the door. Severance is not mandated be lucky they are giving it.. GO GO GO
Take the severance, you’re not guaranteed anything even if the offer is legit. Time to get out.
I would take the severance. They are going to be letting 200 SMs go over the next two years with store closures. Remember that. That means you have a 20% chance of being let go again.
Run
I would say take the severance.
They offered it for a reason. Remember that.
I worked at bed bath and beyond for 7 years and was promoted to a department manager. The year before the big department manager lay-off I quit because I was so burnt out and because the company is shady always promising a big promotion or something fantastic. My fiancé was an ASM and just got laid off today, I would say run for the hills. This company has max 4 years left.
I don’t think they are trying to trick you. I’m sure that a bunch of SMs walked rather then deal with this sh#t show. But I wouldn’t take anything without some sort of guarantee. Beware of low volume stores running with only 2 keys. Store Managers are salaried and they could require you to work long hours, 6 days, etc.
I would take the severance and run. Don’t forget 200 stores will be closing over the next two years. First wave of closures is supposed to be announced soon.
Also, consider where the company is headed. The future is not looking too bright for the old BBBY.
Honestly, it's a gamble either way. I see less risk and more reward if you were to take the severance. At least you're guaranteed SOME money, as opposed to the POSSIBILITY of getting more money.
Get a pulse on positions open in your area. Are there positions that would be a good fit with your experience and background? Or is the job market a complete desert? It really depends on your options and where you live.
What ever you decide, I wish you the best of luck!!
We've talked about my future before today. The DM and I get along well and I'm not usually on their radar for anything bad. I've just been around for a while and seen some shady things. I've seen how they treat people in the past. I've considered jumping ship over the years. I love my job, Im good at it. Mostly, I'm terrified of the uncertainty and change.
Wow, that sounds all kinds of shady. I would definitely tread lightly. Have they asked you if you were interested in being an SM before today? Cuz if not, then that's suspicious.