One thing everyone needs to know....
-The GMs hand-picked their new leadership teams. This is a fact. Honestly, it's probably better this way. Token interviews are no-fun for everyone and demoted leaders generally do not move forward with the attitude required to inspire and motivate a shell-shocked labor force that is about to endure significant changes.
Yes, if a GM selects their team based on their preference alone there will be some favoritism, good 'ol boy-ness, and the potential that some high-performers got passed for less skilled or accomplished managers. However, it also gives the GMs an opportunity to purge the garbage and bad apples from their teams.
Many more low-performers will be let go than kept. My guess is the ratio of bad to good managers will improve significantly after today. This is a win for the company, the stores, and most importantly, the employees.
Thanks to this website, I was motivated to look for and actually secure a more lucrative job offer. Now it is time to take my severance and move forward. Best of luck to everyone effected...be glad the market is so strong right now, just maybe not in retail.