I have heard that the VP is being dropped from the VPSM title. Any truth to this? I mean, it was over used anyways. Also heard pay structure changed for them? Would assume bonus structure?
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Yes it’s true. Just known as Store Manager now.
Not just Store Managers who no longer have the Vice President title. Macy's has five regions and between the regional, district, and stores a typical region had between 125 and 180 executives at the VP or higher level. Now, only the district manager and regional managers are at the VP level. Everyone else is a director or manager. The company wiped out over 600 VP titles just in the stores organization, similar changes throughout the central organization in NY and OH.
No changes to base pay, but stock options and bonus programs are based on title...so not good news for anyone impacted by the title changes. It doesn't end with the VP's, company is "reevaluating" all executive pay and compensation ranges for the next two year, so leaders can expect to be compensated less and the company will continue to ask more and more of the people in the field. If you read the new with so many other retailers going out of business, it is getting easier and easier to pickup experienced retail leaders for much less than many longer term executives are paid today.
How are they a VP when all you manage is one store? You. are. a. retail. store. manager. You sell clothes in one store. 4 walls, most with a fraction of the volume of what it used to be. Quit with the fluff and ritzy titles, it just adds to the c---iness of your managers and horrible culture.