Anyone else hear that the GVPs and RMs are having a secret meeting in the tower this week with executive group? Is this that Project Moving Forward? Feel like something is up and I should start looking.
Shame cause the store would be doing better if there was actual labor.
Was anyone else on the call today and notice that lack of labor was not brought up? I also love the way the cockerels all patted themselves on the back for the company improving. dollar wise. They are all doing it all by themselves. Yep. All by themselves. The store employees did not help at all.
My store manager is an id--t. She doesn't divulge anything. The surprise will happen when she posts the schedule. Our previous store manager was very transparent about everything that was going on with home office. He told his stuff he probably shouldn't have told us, but he didn't want us to be surprised.
How bad is payroll compared to previously? My SM hasn't said anything to me yet but this post has me worried. Were all stores payroll cut or just some?
Wonder if the group of private investors led by Jefferson River Capital, a private investment company controlled by the James family have always had an exit strategy?
Yes, the new payroll hours are completely insane.
If it wasn't clear before this ship has hit the iceberg and is sinking fast. Much like the Titanic, the elite are making for the lifeboats and leaving the steerage class to drown.
Got next month's payroll hours...what an absolute f***ing joke!
All staff have their hours slashed.
There's no way our store can operate on this
I'm guessing the only thing that will be up is the level of complaints but hey, keep capturing those email addresses.
I don't think it's possible to cut all full-time staff to part-time because not every store is set up the same. I feel like they're going to go after FT Team Leads, full-time ASMs, small store GMMs and small store Text Managers first. Mid-sized stores will more than likely have their FT ASMs and FT Team leads cut. CM will probably be next (depending on the school) and then GM . We all know that the big 10 stores will not be touched.
Not my circus, NOT my monkey.
If this is the solution that a group of private investors led by Jefferson River Capital, a private investment company controlled by the James family who are we to argue with them? Sharpest pencils in the box!
And when is the official communication on this quit or be laid off coming out. Dear mongering isn’t helpful
"So full timers have a choice of quitting now or getting terminated at every Follett store"
Remember if you quit, no unemployment. If they lay you off, there is unemployment. Don't quit unless you already have another job lined up.
So full timers have a choice of quitting now or getting terminated at every Follett store.
You can’t fix cash flow issues by cutting payroll because that exacerbates the problem by slowing revenue.
So all full timers besides store managers are being cut at every store?
AND
Hiring more VP's, Executive VP's, Group VP's and RM's will fix the problem!
THAT'S where we need to spend the money!
So all full timers besides store managers are being cut at every store?
The reorg is changing FT to PTs and just having retail key holders. The rest will be done centrally by BM and his merry band of id--ts. The only thing productive he has done in his years here is sucked up to JH. He is like GT from the days of when we wanted to centralize buying.
Anyways, they are also speaking about cutting certain store GM spots.
Oh and RP is trying to buy another company, rumor is BNED. Cause that would make for three terrible purchases.
I wish I was engaged to a billionaires daughter.
Earn it, don’t burnt. TJ actually worked for his money. Just break and have a drink. Heard you were a wild card back in the day and KH was your sponso…. Never mind.
I’m currently sorting through my accounts as I type this. I have to make a decision on which unprofitable accounts to terminate. The mood is mellow here….I know RMs will be impacted after this shift. PMF is in full swing. Buckle down the hatches and hang on.
What’s funny is that it’s all the same stuff from previous leadership except these owners will actually fire accounts - even if they have been long term. No one is safe, no one is irreplaceable, everyone is a target.
Mass reorg coming.
Reorganize WHAT?
They've cut labor to the stores to the point the store level employees are demoralized and don't have the bandwidth to do the basic job requirements.
The group of private investors led by Jefferson River Capital blew it big time by investing in a dying business.
You've failed. When will you throw in the towel?
What's that I hear? Follett Family members laughing their butts off?
RMs and GVPs are in and it’s about that project.
Test my theory and call your RM and see where they are.
Mass reorg coming.
Maybe a group of Follett Family members is putting together an offer to buy the company back?
Wouldn't that be Swell!
Anyone able to share what we are at verse plan and LY overall? I am hearing it’s upwards of $85M off plan and something like $30M off LY.
Jefferson River Capital LLC has probably realized they have made a bad investment. Looking for a way out.
I know theyre meeting, again. They arent going to shut us down, but I wouldn't say things are going well either. It seems to me they are posturing to offload us. For those from Neebo, we have seen it before. All of it. The labor cuts, PO restrictions, the empty promises.
That being said it is never a bad idea to brush up a resume or diversify your skill set.