Co-Operative Troubles

[excelsior-1]

disastrous financial results today - the company big-wig stated on the news today that there might be the possibility of job losses. . . . .

. . . . there ARE job losses!!!! my depot is being closed down, and well over a hundred of us are being made redundant!

i read recently that bad management decisions contributed to the message - - those managers are safe and sound in their offices at head office, drawing their enormous salaries and obscene bonuses, while those of us who have worked hard for twenty years on basic pay are being thrown out of our jobs

(rant over)

[ducksie]

So you're out of a job Excelsior? sad to hear that, looked like things were going well with you - jobwise. hope you're not too long out of work

[gness]

Sorry to hear that, Excel....not the company it once was is it?

[Mass_Hysteria]

So sorry about your situation excel.
Have gone through the same process where I am. Loved my job, got the best appraisal results EVER and was then told the whole dept was moving to Scotland (nothing against Scotland!) I would then also have to apply for my own job if I wanted to move north!! I leave at the end of May!
Can't wait, they don't deserve me!! Keep your chin up, there are loads of opportunities out there. Best of luck. Mass

[ummmm]

Fingers in too many pies.

[wolf63]

I remember when the Co-op was a respected organisation - ethical and reasonable quality goods. We lost our furniture shop a couple of years back.

I am sorry to hear about you losing your job, it must be a bit of a worry for you. I hope that you are able to get some other employment - not at all easy these days.

I had to give up my job ten years ago due to ill health - at first it was scary.

Good luck and keep us updated. :-)

[factor-fiction]

Sorry to hear that excelsior. Redundancies at the Co-op is not a new problem for years. I was made redundant from there quite a few years ago. As with many companies who suffer big losses the general employees are in no way to blame but generally take the hit as obviously costs need to be slashed. The huge losses usually stem from poor decisions. In Co-op's case it was the takeover of Britannia Building Society with it's toxic loans and the takeover of Somerfield Stores - these account for the bulk of the losses. The people who made those decisions are not sitting in the boardroom though- they bailed out and took the money before these problems came to light

[factor-fiction]

Apologies for few typos (eating toast while typing). Hope Tilly didn't see my "it's"

[Tilly2]

Good luck with finding a new job, excel.
Saw it, factor but enjoy your toast. I won't tell.

[Peter Pedant]

bad news excel

The example of the cocaine snorting Mr Flowers is taken as an image of what is wrong with the co-op - altho he is largely a figure head

workers may be good and motivated but if the mgt is crap then the company will go under - the only place where this doesnt happen is the NHS

You are majority owned by people who dont have the co operative movement at heart and so it probably means curtains for your company.


Sorry

[factor-fiction]

PP- are you referring to the Co-op Bank (in which the Co-op Group holds a 30% stake, with the other owned by hedge funds or similar) or the Co-Op Group which is still run by local committees and boards (and which was described by Euan Sutherland as ungovernable because the local boards seem wedded to the ways things were done 100 years ago and, rightly or wrongly, would not accept private sector style decision-making boards that were wanted by those such as Sutherland who was ostensibly brought in to 'save' the Co-op

[sp1814]

Best of luck excelsior-1

[tonyav]

Your rant is justified, excel, best of luck with finding another job.