Thread regarding Follett layoffs

To: All Associates From:Bob Scholl, Sr. Vice President, Retail Operations Subject:A Message from Bob Scholl Date:11/08/2013 Earlier today, managers across many of our stores took a series of difficult actions tied to an important Follett initiative. These actions were necessary to not only improve the experience of our customers, but also to allow Follett to continue to grow and invest in the future. In order to deliver the hassle-free shopping experience that our customers expect, we are adjusting our store staffing model to put more hours on the sales floor whenever students are shopping most. This involves shifting our ratio of full-time hourly and part-time store positions, and following scheduling practices to ensure our stores are always staffed at the busiest times. This shift gives us more scheduling flexibility each day, week and year. The result will be more customer-facing labor hours in our campus stores, generating more selling opportunities with increased customer satisfaction. While this is the right decision for our business and our customers, there's no doubt it will impact the associates in positions we are converting. We have provided as much support as possible to help associates affected by this transition, including encouraging them to apply for the new part-time positions. (The majority of the hours will be placed back on the sales floor in new part-time roles.) These associates will receive a cash severance based on the length of their service, whether they take a part-time position or not. In addition, associates choosing not to stay with Follett will receive outplacement assistance and counseling. Putting this flexible scheduling approach in place over the coming weeks is a critical part of creating new customer relationships and repeat business. It's also a part of Follett's much broader and comprehensive transformation, which is reflected in the fact that we've invested more than $200 million in technology, distribution, digital content and ecommerce over the last three years alone. These investments are creating more efficiency at the store level, allowing us to deliver even more hours of store service and support when students and faculty expect it. Follett will continue to invest and grow our campus store locations because we understand the enduring value our stores have to the campus communities they serve. Your support during this important time is very much appreciated. If you have any questions, please contact your manager. As always - thanks for everything you do, thanks for living the Follett Values and most importantly, thanks for continuing to take care of customers.