Thread regarding Follett layoffs

While sales were siphoned off by online competition, follet continued acquiring stores through expensive front loaded contracts. They promised upgraded facilities and high, minimum pay outs. The existing stores dumped payroll hours on the new stores by sending very good, seasoned employees to transition the acquired store. Those costs were absorbed by the acquisition budget. Each acquisition yielded poorer results.

I think that's one of the reason "the family" (you know that's what Manson and his followers called their group, The Family), approved running so many experienced people out of the company. They weren't going to ink those expensive acquisitions any longer and they had no where to dump salary. It's a card game, a ponzi scheme in which the family was paid nicely.

In the good old days of no internet/early internet there was plenty of profits to go around for both the family and employees. Unfortunately as sales plummet, the profits also plummet. The family dividend remained the same, but the employee benefits experienced drastic reductions and employees were laid off to maintain the equity payout.

"The Famaily" approved of everyone of the layoffs, benefit cuts, pay cuts. They family runs a bad company. There is no reason to stay and "hope" things get better. They're not getting better. You're living the good old days everyday. In 5 years (assuming the family doesn't simply cash in), you'll look back on 2017 and pine for how good it was.

The family is still running the company. The keys have been handed over to the younger generation o and they don't possess the same values and integrity as the older Follett family generations.

To: @MOzRqCo-1and. Worse yet, Follett hired all of the "elderly" employees from Office Max, Sears, Ace Hardware and KMart. We are doomed!

There is still life for this company. We're Just not going to get there with traditional approaches, outdated business models and an us vs. them culture. We must think outside the box and move away from the top down approach.

Sadly to say, it's the arrogance of this leadership that will kill this company.

Horse makers?

You know just like humans, there are phases of the company as well.

There is Infant, Teenager, Adult and Elderly.

Amazon and online retailers are what one would consider Teenager/Adult. And Follett and other brick and mortar stores are what one would consider Elderly. And just like humans, elderly don't have long to live so it may not be best company for someone who wants to progress and move forward. Elderly companies are for lazy, and unmotivated people. Teenager/Adult companies are for innovators and bright people.

Follett had its chance during its Adult years, it just decided to slack off and sleep at the wheel. Now the marketplace is shifting and they are caught pants down.

The Family still runs the company. Who do think hires senior management that is driving the company. If this wasn't what they wanted. they would be gone. You have to question their sanity with their company in a downward spiral they purchase B&T which is also on a downward spiral. Looks at Sears and KMart. On life support just waiting to pull the plug. With colleges going to open source materials, there is no turning the ship around. Must be how the horse and buggy makers felt back in the day.

Profits over people and customers, this is the modern day Follett. Whats best for the customer - has never been a topic of ANY meeting I have attended. How can we maximize profit - is always a topic in the meetings I have attended.

Yes, I do. when it used to be PEOPLE FIRST.

The students are always the customer. If we don't serve the students and faculty, we don't understand the core business. Not staffing the stores or various departments (i.e. A/P, Product Support etc) properly will only result in poor customer service. If the bills aren't paid, the vendors will not ship and the students will suffer. They will simply not trust Follett and will go elsewhere to buy books. The stores also need to be adequately staffed and trained to handle backoffice tasks that impact vendor payments and store planning. Unhappy students and faculty will only lead to diminished relationships and non renewal of contracts.

Our school is getting more vocal about Follett's lack of initiative and investment, too. Sometimes I wonder if Follett intentionally ignores schools because they no longer want the contract. Kinda like a relationship you want out of but are too chicken to say so you treat the other person poorly until they leave you. I never hear Follett say ANYTHING about serving students or educational outcomes. It's all about faculty and admins and putting extra items in the "customer's" basket. Shameful.

The old Follett was a company that I'd have run through a wall for because I felt that they cared about their people. Even if I didn't agree with the changes they made throughout the years I respected it because they explained it for their work force to understand.

These K-Mart and ACE Hardware fools that are running the company now have totally destroyed a once great corporation. With all the layoffs and pulling of every benefit possible I just do as little as possible for Follett while doing as much as possible for the University. I'm just killing time hoping that the University will just pull the contract and run it in house again. They are getting more and more vocal about the lack of staffing and I do my part to fuel the fire that Follett refuses to serve their students properly.

I sure do!!