Just let me remind all of the infamous video of an angry Demos (about 3 years ago) berating store managers that complained about their bonus being eliminated. Demos took a huge stock bonus that same month.... AXXHOLE!!! Good riddance... can't wait for Ron Otis to get the same and then see if ANY company in their right mind hires Otis...
5 replies (most recent on top)
It was a proprietary video from a Town Hall at the corp. office. It may still be on the staples intranet (Hub) but I would bet it was removed. I can't remember if it was streamed on PC or broadcasted over sat net to receivers on the break room TVs. If it was broadcast their may be tapes hanging around stores.
It was pretty amusing though because he flipped out when asked if execs were still getting bonuses after he broke the news store managers would not.
Where is the video? Can you get it up on utube? It must be viewed by the media. If he did behave that way he should have been fired. Staples has a way of sticking their head in the sand with these issues. Double standard for management.
I also lost out on a bonus that year. It would have been $17k. But the execs still got their bonuses. Good riddance for Demos. A lot more need to go. I saw this coming when I worked there back in 2010. When Staples got rid of GM stock compensation. That was the beginning. Sad to see a once great company reduced to a shell of its former self. Ron needs to go. It's blatantly obvious that he cannot run a company. Sure hope the $4 stock predictions in April will come true. Really hope some people come forward and talk to the press and even lawyers.
This reminds me.....I recall either last year or the year before (when Ron authorized partial payments of bonuses) that Ron made a comment about getting the structure and payout triggers on the executive bonuses changed.
Did anything happen with this? I can EASILY see him getting the EPS criteria removed from executive bonuses while keeping it for everyone else. It seems to me this Spring will be one last cash grab for all these clowns and that is why Demos is being kept around until March 31.
It was fun watching him lose it on video, but not worth the $15k bonus I lost because of this axxhole and Ron.
My store was slated for 110% payout on bonuses that year.
I did my job well and got crapped on for it. These scumbags failed at their assigned goals and rewarded themselves anyway. That was pretty much the turning point for me. It was glaringly obvious that there was no accountability for the execs.
Then the next year, same thing - Ron takes a $300,000 bonus - against a shareholder referendum. Poor Demos "only" got $55k. I got screwed again and got $1600 out of the $10,000 I would have based on my store's results.