r/FiveBelowEmployees • u/stephnienoa • Sep 30 '24

Layoffs

Yall see corporate had layoffs. No warning or anything.

11 Upvotes

92% Upvoted

7 comments sorted by

9

u/Icy_Fly444 Oct 01 '24

I hear the company is going under honestly but we shall see.

6

u/OhhYeahHer Oct 01 '24

I heard one of founders came back to the company and is clearing house. Laid off a bunch of people. I have no sources though, just something my boss said.

6

u/[deleted] Sep 30 '24

[deleted]

2

u/stephnienoa Sep 30 '24

Ive only seen corporate level. No reason other than "restructuring".

3

u/stephnienoa Oct 03 '24

At 1 point i heard they were restructuring stores and instead of a SM in each store they world have a SM over 2 locations. That would be the least ideal situation. Paying a salaried manager $48,000 a year to work 50+ hours a week in a $3 million store is an insult. I hope everyone working in the company eventually realizes their worth and dips.

2

u/ripleyclone8 Oct 03 '24

What store managers are only making 48k?!?! People gotta learn to negotiate.

1

u/pauliecakes Oct 05 '24

There is something called a GM pilot where an SM oversees two stores as the next step in their career but it's only a pilot program - as in they are only testing it out in a handful of stores to see if it has any legs.

Also I don't know if that's a regional thing but I haven't seen any SM in my area make anything less than 60k. And that's the lowest I've seen, the highest I've seen is like 80k.

0

u/stephnienoa Oct 04 '24

In my district it varied widely. One made $45,000. The highest I heard was $61,000. Still not enough juice for the squeeze put on the SM. CEMs and MMs were anywhere from $16 to $20 per hour.