The company lost $200m in sales from closing stores, and another $240m from sales declines in the remaining open stores. So much for the effectiveness of focusing on the best "members" and stores. Whether there will be more limited closures before the final collapse is an open question. They may be getting past the delusion the company can be "rightsized" back to profitability.
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In February when the last layoff occurred, there were 5 full time people let go, and the assistant manager, in my store. They created a hardlines and softlines supervisor job. These were part timers that didn't have a clue. The store is a total wreck, and total chaos. Imagine losing 5 full time employees, with the work load the way it is. Believe me, you will want to be one of the ones laid off. It is unbearable! Hope my store will be on the closing list, because it has been 6 months of pure hell.
I expect another round of closings, and another round of layoffs. The stores that will close next are the ones that do not have an assistant manager. Then the process will start over at other stores. The staff will be cut, and they will wait for their closing date or bankruptcy, whichever comes first. It is terminal.
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Since the company has emphasized it is going to concentrate it's efforts on its best stores, I think it is a safe bet that low-volume and negative EBITDA stores would see layoffs of full timers and ASMs. Not sure what the labels of Phase 2, Phase 3 mean on a store in relation to this, and that detail seems to only be with VPs at corporate.
I m thinking full time employees well if there are any left. I had also read that they might be eliminating the ASM and just replacing them with hourly workers. I hope that is not the fact. We have a really good ASM and she has no idea.