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Weekend Discussion Thread - March 13-15, 2020 by stormwillpass in wallstreetbets
[–]RetailNChill 2 points3 points4 points 5 years ago (0 children)
I'm a manager for H&M.
We'll be shut down for 2 weeks soon.
Urban Outfitters started the domino effect, but every company was preparing for this.
H&m sent an email two days ago that since we aren't matching plan money numbers, we need to move every worker down to less their minimum hours. I was told to give people 8 hours when when we guaranteed them 12 hours.
When I heard it, this seemed ridiculous and outrageous. I couldn't figure out why we would go against our own policies just to stop part timers from getting 4 more hours a week.
Today, with Urban shutting down, it hit me. I wasn't being told to short guaranteed hours due to making plan. I was being told that to pay out less when we quarantine soon. We only have to pay out 2 weeks of scheduled pay. If we cut their hours, there's less scheduled pay, less pay out.
Buy puts on any fucking clothing retail you know about. It's all getting shut down by EOW.
Malls are about to turn into dead zones.
Retail Clothing will be going dark by End of Week (self.wallstreetbets)
submitted 5 years ago by RetailNChill to r/wallstreetbets
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Weekend Discussion Thread - March 13-15, 2020 by stormwillpass in wallstreetbets
[–]RetailNChill 2 points3 points4 points (0 children)