This is all factual info. Although I was not privy to the conference call, I do have all the documents the SM was given.
- The SM's did not know until Mon that any of this was going to take place. On Monday, they received the info about what was going to happen, but they still didn't know who it would affect. The DM's got all that information to them by Tues morning. So they were just finding it specifics about who was affected right before they told you.
- They had to sign a non disclosure agreement about sharing any of this info prior to today, and the documents they have been given yesterday, they can't share at all.
- There is an "optimal" structure based on store volume/location etc... So whatever your volume, how many FT you can have is set, and they let go any FT above that number. It was done on seniority, and the longest term people got spared.
- Severance was given one week for each FULL year with the company.
- Earned but unused PTO (vacation, holiday, and personal time) will be paid out.
- If you have taken more PTO than you have earned yet, it will be deducted.
- Same applies to ASM, Dept Sup, or Dept Mgrs (if there were any left). There is a set number per store volume. Any number that was over that set number was let go.
- ASM50's are going to Supervisors working 45 hrs. You have 48 hrs to decide if you will accept the Supervisor position. If you don't accept, you will be let go.
- HR will contact you on Weds to discuss the pay changes, etc....
***The one thing that I do not know about though is severance for ASM's. Although, as I said above, none will be offered, I have heard rumors that when HR does call you, they may indeed offer you severance.
- If you do accept, you will continue to be paid the same for 90 days, at which time, you will be paid under the new pay structure.
- The pay will be max Supervisor pay + 15%.
- Everyone keeps asking who knows how much. It does vary, but I can tell you for a fact, that in my state, it ranges from $20 to$22. I have the spread sheet from the DM with the pay scales on it. Basing calculations on $20.50 (which is the most common max rate), the 15% extra would bring you to $23.575 or $23.58 if you round up.
- This affected not only in store personnel, but Dist/Reg positions as well. Specifically, I know that almost the entire operations team was let go (CIM's and even higher). This included Fink if you any if you know who he is.
I have copies of nearly all these documents and, I am debating whether I should release them to the media. Not sure the media would even really care since so many companies are doing the same thing these days. I'm not sure that it really matters since the company probably won't care since it's all already it in the open. I sure would like to have the all the internal emails, memos, etc... that went out prior to today about what was going to happen today.