Layoffs coming in November! Get ready!!
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Staples Retail President is out... I am pretty sure he must have been fired since it is effective immediately. Copy and Print and Party City has not carried the company like they hoped it would. Happy November! Good luck everyone.
How many reorgs can they possibly do in one year before looking at the leaders failing on the strategy? Longtime employee here that was higher in every metric than those around me, including employee satisfaction/survey scores. They'd rather save a few nickels than have top talent.... And it's all based on some algorithm they dump names into.
@je You're correct. Having been part of this type of "decision making" in the past ", it's timing. Budgets are directionally locked for the next fiscal year and this allows for the dust to settle and allow the restructure plans to be implemented. Also, many activities that were being worked on by the unfortunate impacted associates fall to the wayside or are transitioned (more work ,same pay) to other associates.
@fc Ha. I am not naive to the fact that layoffs happen all the time. I've survived several, but the last 2 major layoffs were in November 2024 and November 2022. Could a few people get let go in December? Sure. But if there is a large layoff it will not be happening in December. Companies try to avoid this type of thing if they can... even Staples. If they did layoff a lot of people in December it would be unprecedented.
Hey dw, do you seriously think the organization is concerned with ‘optics’? They have been laying off the better, experienced and more expensive talent for literally years. The reason these reductions take place is to reduce costs since growing sales has proven to be impossible. The ship is shrinking. SP has a math problem and the only way to address it is by reducing costs. They will not wait until February because the severance expense will need to take place this fiscal year so they will have a shot and starting off 2027 in a decent position. Private equity is concerned with bottom line only, not the optics of potentially looking bad by laying off in December. Everyone is a number. That doesn’t make them bad people……remember, they are the ones that have invested their money in the first place. (then leveraged it to the hilt to get their capital back)
That said, I like your optimism and I sincerely hope that you have a long and successful career.
Core Trust just awarded ODP their vendor partner of the year.
Core Trust is a GPO (group purchasing organization) that works directly with existing customers, offers lower pricing and gives Staples or ODP a chance to hold onto the account. In reality, they add no value and cannibalize margins. This is important since Staples has gone all in with these GPO’s because their business development and account management teams are so bad. They get outflanked by the GPO by having no relationship above a purchasing manager.
What a slap in the face not to be recognized after forfeiting millions in profits to the GPO who they are also paying a percentage of sales to.
Several other GPO’s doing the same thing to Staples.
They won't do a big layoff in December. If it doesn't happen in November then I would expect February being the next possibility. A December layoff would have terrible optics for the company and say what you will about our current leadership, they are smart enough not to cut a lot of people right before Christmas.
My guess restructure since they cut two regions in retail I'm sure they will cut at least 1-2 districts per region
I heard from someone who knows more that it won't be in November, but will come in December. Who's neck is on the line? OP? Print? FS? Furniture? STS?.
Spidy senses think a little bit of all.....