Bad leadership has no idea how to position CVS to achieve a larger market share and improve profits so they do the only thing they know how to do: they lay off employees and close stores. These moves will only hurt the company in the long run since the end goal is to continue to grow instead of shrink, but nobody seems to care about that.
3 replies (most recent on top)
Actually truly great leadership would have a competent team and plan to make sure stores could grow sales and profits. Which would help slow down or eliminate some store closing. This would take a totally new mindset from the current upper management team that believes the stores don’t need labor hours to run efficiently and effectively. Ultimately the customer votes with their dollar and going into dirty unkept stores that are not properly stocked and staffed along with high prices has driven customers away. The leadership of this company justifies there jobs and or positions by creating more work, tasks, and unattainable metrics while at the same time cutting hours for these newly created pet projects and tasks that most of the time fall off or are replaced by the new VP and there metric of the month. Most successful retailers talk about growing sales. Unfortunately CVS doesn’t and it shows. So they take the easy way out and close stores and eliminate staff.
This post proves this person knows nothing about business.
The stores they closed were not generating a profit at all. They were costing the company millions of dollars just to stay open. Youd be stupid to keep nonprofitable stores open.