Confirmed each region laying off three more

My region manager told me this morning that they have been asked to submit three names for the next round of layoffs. I asked if this was base + bonus reps only and that answer was NO. They are choosing three candidates from each region, doesn’t matter if you are salary or commission, the choice is up to the regional manager. Happening before end of year.

 

So Chuck today on the Coffee with the Cohens when he said that's all, no more layoffs... he was lying(I know shocked). So who's telling the truth? Chuck or you, have to ask? Hard evidence? 3 is a lot! Some of the smaller regions thats half a pod. Insanity. Sales don't just happen.if this is the way of Benco then Benco wont be.

 

27 regions, right? So 81 more to go?

 

I don’t think my regional manager would straight up make that up. Maybe it’s a “possible lay-off list” and he just wanted to make me worried for my own job, who knows? I think it’s funny that chuck said on the coffee with the cohens that there are people who left to burkhart who now want to come back and “he doesn’t want some of them back”. Give me a break.

 

Why would the RM tell you? Also why wouldn’t they just done it all at once and get it done in one shot.

 

That would be a tragic mistake for Benco as a whole, although BSF would be less costly with fewer reps ... look if your RSM put that out there, then if your performing I'd not worry. They don't gather lists like this unless they're looking to axe more reps and that isn't something to be told to a rep they're looking to get rid of. But then again...

 

If they are so concern with saving money why even have a BSF? Doesn’t surprise me if they get rid of more reps but family company doing it right before thanksgiving and Xmas doesn’t seem right. None of Benco seems right anymore.

 

Your under the assumption it's a family company any longer. It's Chucks company now and he could care less. And no time is a good time but yes before Thanksgiving and Christmas? Bad form no matter how you spin it.

 

Because not all RMs are good at keeping things confidential. I think the first round was an absolute necessity money wise. Round two might be too. He did st there were more legal things they are still dealing with on the call today but that they are coming to AJ end. So round two is probably an “if needed” list of Kay offs.

 

They let go a bunch of admins right before Christmas a couple years ago. Ours was let go like two weeks before and she was devastated. .

 

Yup. Even the way he talked about the inside people who were let go who were the weakest links during the coffee with the cohens call. I know that many of those people were not weakest links.

 

what call? More legal? Wasn’t it all resolve?

 

Coffee with the Cohens, and there's still 2 lawsuits pending. He tried to position them as smaller than the others but if the RM's were asked for names or potential names then they're not that small and they have to know that even though the FTC "cleared" us of some charges but guilty on others means theres a lawyer(s) out there looking for how they can sue us also. Buckle up this is going to be a bumpy ride.

 

FTC “cleared” still means they have to have compliance people who they have to hire and keep for the next few years.

 

What are the 2 lawsuits?

 

I don’t remember if he said what they were, but he did make mention of the fact that this source one lawsuit cost a lot whole lot more than they anticipated, but not enough to put us out of business. I’m sure they are proceeding with caution with pending lawsuits, if they end up costing what source one cost, that would explain the additional layoffs

 

anyone know how much it cost Benco? Early estimates was a combined $80 million for all 3 distributors

 

Below are the lawsuits I am aware of. They began around 2012-2013
Service Techs sue for not getting paid for over 40 hours when they were salary
TDA Texas Dental Association
SourceOne Dental
Schein had one with Archer & White not sure if Benco was involved in that one.
Then the one out of New York for price fixing. Settlement 13.2 million.
FTC
IQ Dental
Millions in attorney fees for Benco.
Arizona Attorney General
Maybe something with Wisconsin Dental Association.

 

Schein settled with SourceOne in 2015 for 3 Million. Heard settlement for SourceOne with Benco was sealed.

 

Privately held so not public knowledge on our end