Bloodbath At Staples As Layoffs Hit Corporate Office, Senior Leadership

Posted under ECONOMIC on January 26th, 2016 by Thomas Dishaw

Staples has reportedly laid off hundreds of corporate employees  in a move announced as “leadership change.”  The struggling retailer is sinking faster than the Titanic, layoffs and store closings are right around the corner.

In a round of cuts described as a “bloodbath,” Framingham, Mass.-based office supplies retailer Staples Inc. ($SPLS) reportedly laid off hundreds of corporate employees at both junior and senior levels, Monday. Fortune reported the layoffs, citing sources familiar with the cuts.
In a press release, Staples announced “leadership changes,” including the departure of Demos Parneros, who is resigning as president, North American Stores and Online, effective March 31.
Otis Pannell, senior VP US retail operations, takes over retail, and reports to Shira Goodman. Currently president, North American Commercial, Goodman has been named president, North American operations. John Wilson, president of Staples Europe, also has a new title: president, international operations and transformation.
The release made no mention of layoffs. “We are streamlining the organization and building a simplified structure that will speed decision-making and enable us to focus on driving profitable growth,” Ron Sargent, chairman and CEO, said in a statement. “These changes will help us compete in a rapidly evolving marketplace, either as a standalone company or in combination with Office Depot.” Staples continues to pursue its planned merger with Office Depot over the objections of the Federal Trade Commission.
In 2014, Staples announced a plan to close 225 stores in North America, about 12 percent of its locations. The closings and other cost-cutting measures, expected to save $500 million annually, were set to be complete by the middle of 2015.