Between the insane amounts of money spent on middle management coupled with the ridiculous waste spent on real estate. BBBY spends over million a year in property taxes ALONE for an office space that goes empty and a data center that should be getting replaced by the cloud.
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Sorry..i read the post wrong. Did not realize you were replying to ,@17 years in corporate..my apologies!
@17 years in corporate..if you started in 2007 and its 2022 you are not at 17 years..simple math
they seemed to and still seem to grossly overestimate how many people want to work minimal part time hours for starting wages at LEAST 2 or 3 dollars less then a lot of other retail jobs. part of that turnaround strategy was letting go of the experience to save some money, but the stores didn't and don't have the part timers to carry out the tasks that corporate seemed to anticipate. on the rare occasion my store actually gets a hard working and dedicated part timer, they never last more than a year or so because they either go to college, or leave for a better paying full time job.
@17 years in corporate...that was the best explanation of the state of things I've heard yet. I came to bbby in 2007 from Linens and Things and what attracted me to this company so much was there was a strict method to everything. From put away to customer interaction to even closing down the building every night. I started from the rock bottom on purpose to learn everything I could and 3 years ago got promoted to supervisor and all those years of soaking up knowledge and experience ended up being a total waste. Everything I learned is gone. Yes the company needed to move forward in many ways but by trying to do it so quickly they ended up utterly breaking the stores. They are a shambles now and people like me that have been around a long time are pretty much useless. As you stated they should have took a harder look at what was working first before going in g-ns a blazing. Now at least at the store level they are a mess. So much so that I don't think it's going to get straightened out. If they truly want to fix this and turn it around they are going to have to put money back into payroll and give the stores back some control. Let stores get back on track with merchandising and inventory and customer service. Go back to thebasics. That may turn this around. Not a bunch of rewards and lengthy check out and continuous aisle changing or constant zip line tasks. We know what to do. Give us back the ability to do it.
I've been in BBB corp. for over 17 years and I've loved most of that time. However, when Steve T left and and most of the C-Suite folks bailed or were canned, the new leadership team that came in believed that every part of the company was broken which was not accurate. While there are always opportunities for new processes and efficiencies that can be gained, you should probably start with a thorough review of all the existing depts., roles, functions and processes before you employ a scorched earth strategy. They got rid of a lot of talent, dedicated professionals and seasoned veterans across every division of the company. Hundreds in corporate from VP's directors and front line employees, hundreds more in regional and divisional support roles and who knows how many thousands at stores, warehouses, ecoms and call centers.
They let go of so much experience, wiped the slate clean and then tried to rebuilding everything from the ground up all at once. While the overall vision may have been on target for what the company actually needed in the long run, their approach and execution was horrendous.
A lot of warehouse drivers (order pullers) were laid off yesterday at the e-commerce warehouse in Port Reading
NJ yesterday
“Are they going to layoff everyone they hired to replace the people they laid off in 2020?”
See,
This right here!
I love the people I work with.
Can’t get a good laugh like that at Walmart!
I see this kind of post everyweek is this for real?
They need to start at corporate. My store is close to the corporate office and when a new initiative rolls out more than a dozen people show up to look at it. Last time I counted 19 people and we were open and they ki---d our conversion. They need the people in the stores who can sell and keep the sales up. I hate to see people loose their jobs but the corporate people who work from home are only working 2 hours a day at minimum and that is a fact.
naming the poor performers in your mind. that's a first on here......
when are these layoffs happening? This week? Kinda like they were suppose to happen last week? it is pay week this week. And if I do recall the big round of layoffs a few years ago happened in late July
Not just corporate they are going to go lower than that. Have too!
They will sell off baby, close all underperforming stores (at least 200+) and then they won’t need as many corporate people or field folks. That’s just reality.
Are they going to layoff everyone they hired to replace the people they laid off in 2020?
This is borderline speculation but also not false. It is not a matter of if, just when. Honestly it is a bit surprising it has not happened yet since that last dreadful earnings report.