RIF

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They HAVE to cut 400+ or they are finished, mostly corporate and probably one of the manufacturing sites. Their corporate office is extremely bloated and is pure overhead. That's the only way to survive...Good luck to all who stay.
 
I feel sorry for those who stay. So many good companies that are not operating under the dark cloud of federal investigations and civil suits.
 
Anonymous said:
They HAVE to cut 400+ or they are finished, mostly corporate and probably one of the manufacturing sites. Their corporate office is extremely bloated and is pure overhead. That's the only way to survive...Good luck to all who stay.
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Where did you hear/see this number? I am not doubting you as I have heard something similar. However, my source downstairs says closer to 500 again. Trying to nix R&D, some operations, and a site to provide a skeleton crew all in an effort to make a nice sellable package.

Who knows if any of this is true, but my source (and no, not Joe DePinto, lol) called this last time. I know there has been a lot of worry around how much money we are spending, or more so how fast we are running out, and something has to happen either way. If that means selling at a highly discounted price, so be it. I bet you anything JJ and the 500 VP's are trying to decide whether to sell or claim bankruptcy, as another thread mentioned.
 
Sadly, 500 is probably more realistic, but 400 would probably do it if they cut the huge pork up top. The corporate structure is massive and the dedicated workers at the sites get nothing but empty promises. (yes i'm sure there are some at corporate also)
There are lots of good companies hiring quality people. Good Luck
 
Re: RIF and then some...

All this expanding and the lots we have aren't even filled. Let's hope for an increase in sales so that the facility in Union City can remain open! If we'd clean house in Seattle, non of this would be an issue. Talk about top heavy!!! JJ...Please straighten out the house that Mitch built!
 
I dont think it would be the Georgia site that would be closed or was scaled back, I hear they are very efficient, have the lowest cost of labor and are the cheapest site to operate. That = lower COGS. I honestly hope none of the sites get cut to save usless pork up top, so if they do cut a site back and dont cut corporate by 50%, run like heck cause the new bosses would be the same as the old.
 
Re: RIF and then some...

Anonymous said:
All this expanding and the lots we have aren't even filled. Let's hope for an increase in sales so that the facility in Union City can remain open! If we'd clean house in Seattle, non of this would be an issue. Talk about top heavy!!! JJ...Please straighten out the house that Mitch built!
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Seattle will cease to exist. Hello Bridgewater NJ!

JJ
 
So the word is out that JJ is having an all hands meeting on Tuesday...anyone wanna guess what this is about??? He will either drop the hammer on about 500 people to extend the life of the company (half the VP's should do it) or he will do nothing and blame the former executives when the bottom drops out. If he does nothing, run like hell cause you'll end up owing money on those shares you have.
 


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