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re: Wal-Mart lays off 450 from Home Office
Posted on 10/3/15 at 9:20 am to Porker Face
Posted on 10/3/15 at 9:20 am to Porker Face
quote:
I agree. Many publicly traded companies sacrifice long term forecasting in favor of chasing quarterly results
What gets me about it is... it will hurt those 450 people and their families a lot. It will hurt the NWA economy a bit to lose their salaries.
But it won't make a damn bit of difference to Walmart's bottom line. The money they save on salaries is a drop in the ocean for Walmart's finances. Yet they are probably going to get an uptick in the stock price for "trimming the fat".
Meanwhile they are going to have a chunk of middle management gone and people that already have their hands full are going to be overstretched trying to do what the people that got laid off used to do. Long term Walmart will hire new people to fill those jobs, only they lose the decades of experience in the process.
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Posted on 10/3/15 at 9:30 am to Arksulli
well said
Posted on 10/6/15 at 11:55 am to Pigfeet
Well acxiom is back at it I hear- supposed to be or been a big layoff today. So far I know of one that had been there 25 years and let go.
frick them, seriously that place I swear if i didn't still know a ton of people there I would wish really nasty stuff on the whole dang place.
frick them, seriously that place I swear if i didn't still know a ton of people there I would wish really nasty stuff on the whole dang place.
Posted on 10/6/15 at 2:02 pm to CtotheVrzrbck
quote:
e point I'm making is stocks need to hit target numbers on the quarterlies. Who sets those target projections? 3rd party Wall St. analysts, whose skin in the game isn't to accurately project EPS, net profit, or production schedules. They're there to set an expectation, market that expectation to consumer level buyers/sellers and set up the little trading houses to get mollywogged by the giants, commercial level traders, and hedge funds that move massive amounts of shares daily.
You've got this so completely assbackwards and incorrect.
First, the pressure in the corporate/sell-side analyst firm relationahip primarily comes from the corporation on the sell-side analyst firm. Corporations want sell-side firms to have positive views on them so their equity is attractive to investors. If sell-side firms have negative views, companies can shut them out from covering them which makes it harder for sell-side firms to sell research. Hence, you see very few "sell" recommendations on equities and a bunch of "neutral" recommendations. GE used tondo that shite all the time to everyone, even the rating agencies (hence Fitch hasnt had a GE rating in over a decade). Also the sell-side traders make money on volume, not positions, and even more so post Dodd-Frank.
There is pressure from buy-side investors on corporate earnings, but this isn't the case for Walmart. Over 50% of their equity is held by the Walton family. The largest fund holdings of Walmart are passive funds, which give no fricks about what the analyst recommendations are. Passive funds will size positioning based on pro-rata market size of the equity within the market. Then you have Berkshire which will have their own legal agreements with ownership and don't care about about analyst ratings. Finally you get to the first actively managed fund to own WMT at Dodge and Cox that owns a whopping 0.58% of the outstanding shares.
Wall Street does some shady shite, no doubt, but blaming corporate layoffs on sell-side analyst projections is beyond ignorant.
Posted on 10/6/15 at 2:16 pm to piggilicious
quote:
Well acxiom is back at it I hear- supposed to be or been a big layoff today. So far I know of one that had been there 25 years and let go.
I've yet to hear anything today...BTW
Posted on 10/6/15 at 2:19 pm to sugatowng
that's good, one of my friends i texted still there hadn't either so maybe it's not as big as people were saying. but i do know the guy i was talking about had been there 25 years got let go yesterday.
Posted on 10/6/15 at 2:45 pm to piggilicious
LOL.
This is like a broken record.
Everyone there is probably getting at MINIMUM a 3 month package. It's not like they cut them high and dry. Most of the packages are probably quite a bit better. There's plenty of places to go find another job.
You always have to keep in mind the mindset of these companies and learn to use it as leverage for yourself. Be as cuthroat as they are and don't be naive.
The risk/reward for working in corporate america is huge. Yea it can suck at times, but the money you make for doing very little overall (lets be honest here) is worth it 10x over vs most other gigs by a long shot. not to mention the benefits and the retirement.
It's all in the game people. All in the game.
Anyone who is surprised by this needs to pull their heads out of the sand. Wal Mart has done shite like this for years and good luck making it past 58 there. They'll "retire" your arse without blinking an eye.
Gotta move to smaller companies for bigger raises as your career grows, thats the ticket. I know this and I'm only 26 working for my second massive corporate scum food company.
This is like a broken record.
Everyone there is probably getting at MINIMUM a 3 month package. It's not like they cut them high and dry. Most of the packages are probably quite a bit better. There's plenty of places to go find another job.
You always have to keep in mind the mindset of these companies and learn to use it as leverage for yourself. Be as cuthroat as they are and don't be naive.
The risk/reward for working in corporate america is huge. Yea it can suck at times, but the money you make for doing very little overall (lets be honest here) is worth it 10x over vs most other gigs by a long shot. not to mention the benefits and the retirement.
It's all in the game people. All in the game.
Anyone who is surprised by this needs to pull their heads out of the sand. Wal Mart has done shite like this for years and good luck making it past 58 there. They'll "retire" your arse without blinking an eye.
Gotta move to smaller companies for bigger raises as your career grows, thats the ticket. I know this and I'm only 26 working for my second massive corporate scum food company.
This post was edited on 10/6/15 at 2:49 pm
Posted on 10/6/15 at 2:49 pm to piggilicious
quote:
had been there 25 years got let go yesterday
Yea and was probably making ridiculous money simply off incremental raises at that point.
Can't blame a company for finding someone younger, hungrier and cheaper.
He should go into consulting where he'll make a shitload more as a swan song for a great career.
Posted on 10/6/15 at 3:05 pm to STLhog
piss off.
Posted on 10/6/15 at 3:11 pm to piggilicious
quote:
piss off.
You were way too polite there.
Posted on 10/6/15 at 3:12 pm to STLhog
quote:
Be as cuthroat as they are
That's the problem with this country. We worship the almighty dollar. Morals are considered a weakness. A conscience is for pussies.
There are ways to do business without being a complete shithead but from your posts you're not intelligent enough to comprehend that.
Posted on 10/6/15 at 3:18 pm to dbeck
quote:
That's the problem with this country. We worship the almighty dollar. Morals are considered a weakness. A conscience is for pussies.
There are ways to do business without being a complete shithead but from your posts you're not intelligent enough to comprehend that.
Move to Europe than dude, they're all about loyalty, 90 day summer vacations and 2 years of maternity leave. Look how well that mentality has turned out for them. You're probably one of these same people that blames every damn thing on Obama LOL.
It's corporate america, of course the almighty dollar rules. If it didn't, don't work for freaking WAL MART, who's built their entire empire on you guessed it... The Almighty Dollar.
And if you would have read my post, rather than go to the immediate attack my "intelligence" you'd know there are places that respect morals, ethics and having a conscience. My bad you/your friends/family thought wal mart was one of those places. I've know they were a bag of shite heads since I was 5 years old. I never said it was right, but if you're going to work in that environment, you better be prepared to pay the price.
Sorry to burst your bubble but these are the times we live in and acting surprised/incensed is nothing but pure ignorance/naivety. Apologies for the harsh millennial truth.
This post was edited on 10/6/15 at 3:21 pm
Posted on 10/6/15 at 3:33 pm to STLhog
how old are you? 20's?
Posted on 10/6/15 at 3:44 pm to piggilicious
quote:
how old are you? 20's?
Yep, your typical know it all, hasn't put in his time etc etc.
I've heard it all before.
Again, not saying the layoffs are right by any means, it totally freaking sucks, but expecting anything different out of Wal Mart is crazy.
They "retired" the hell out of someone pretty close to me at 58 after 18 years of immaculate service, granted he was pretty high up and surely replaced by someone like I said, younger, hungrier and much cheaper.
They suck and the game sucks, but that is the way it is.
Posted on 10/6/15 at 3:48 pm to piggilicious
He said he was 26.....
I've got shite stains older then that.
I've got shite stains older then that.
Posted on 10/6/15 at 3:50 pm to STLhog
If you knew anything about Wal-Mart you'd know Sam Walton built that company on respecting people and hard work. It wasn't until his later years that the limitless greed of his children turned it into what it is today.
And no, I don't have friends or family that were affected by these layoffs. But 450 people lose their source of income and your response is "tough shite, you chose to work for them, so you deserve what you get. If you don't like it then move to another country."
I hope you get everything your self-centered "money first, people second" arse has coming to you.
And no, I don't have friends or family that were affected by these layoffs. But 450 people lose their source of income and your response is "tough shite, you chose to work for them, so you deserve what you get. If you don't like it then move to another country."
I hope you get everything your self-centered "money first, people second" arse has coming to you.
Posted on 10/6/15 at 3:54 pm to dbeck
quote:
If you knew anything about Wal-Mart you'd know Sam Walton built that company on respecting people and hard work. It wasn't until his later years that the limitless greed of his children turned it into what it is today.
LMAO. Don't even come at me with that moralistic crap defending people that work for one of, if not THE most exploitive companies in modern history. Sam invented undercutting and cut throat business practice. "Sam in his shitty white truck" seriously LMAO.
I may be 26 but at least I know the real story man. Maybe pull your head out of the sand and give up on that BS facade.
Have you ever read anything? Try picking up "In Sam We Trust" instead of going to store in downtown Bentonville and reading the signs.
This post was edited on 10/6/15 at 4:02 pm
Posted on 10/6/15 at 3:55 pm to STLhog
i doubt anyone is shocked- i'm not- but it happens and it sucks so people will bitch and people will be skeptical of corp life and people will bitch some more b/c corps try to make you feel like one big happy family until they decide to whack people right and left and then they expect morale to be good. when it's totally out of left field you don't care as much but when it's people you know and have worked with and are certain the type of coworker and employee they are, it's just different then.
also, i'm talking about acxiom in these last several posts not walmart- altho it pretty much the same.
also, i'm talking about acxiom in these last several posts not walmart- altho it pretty much the same.
Posted on 10/6/15 at 3:57 pm to piggilicious
quote:
when it's totally out of left field you don't care as much but when it's people you know and have worked with and are certain the type of coworker and employee they are, it's just different then.
I feel you man.
I'm just saying you've got to prepare yourself for it and be ready. That's all. I hate seeing people get caught off guard by this sort of thing with no backup plan in place.
I constantly talk to recruiters and know what opportunities are out there, its kind of the nature of the beast these days.
Posted on 10/6/15 at 3:58 pm to piggilicious
I'm with you. I have friends with Acxiom. They are nervous damn near every couple of months. This seems outrageous to me. I don't know what the answer is but the way they run business is ludicrous. They don't value their employees, that much is fact.
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