AM I NEXT? NO LOVE AT CHEWY

Plantation, Florida-based Chewy, an American online retailer of pet food and other pet-related products, has announced a reduction in force as part of a cost savings initiative.

222 employees were impacted, including engineers, developers, product managers and supply chain personnel, and those located at the company's Plantation, Florida headquarters.

According to a company statement, “As we head into 2024, we took the opportunity to consolidate some of our headcounts and align our efforts into priorities which we believe will gain us the most significant customer wins and generate the highest business returns, to enable us to strengthen the company’s future. This was a difficult decision that was carefully considered as part of our overall strategy and ongoing focus on becoming an ever more agile and disciplined company. We are grateful to our team members for their contributions and remain committed to supporting them during this transition."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT PET VALU (US)

Atlanta Georgia-based Roark Capital Group, a private equity firm that operates Pet Valu, a named licensed in the U.S. from Markham, Canada-based Pet Valu, a retailer of pet food, accessories, and small pets, has announced that the name-licensed U.S. company is closing out its operations in the United States and will be closing their U.S. offices, warehouse distribution centers, and 358 U.S. locations.

The shutdown of corporate operations will impact 157 employees in two locationd, its Wayne, Pennsylvania corporate office (64 employees) and its warehouse in Levittown, Pennsylvania (93 employees).

The number of franchised store personnel to be laid off in unknown because each site employees less than 50 employees -- less than the state-mandated reporting threshold. Layoffs are scheduled to occur in January 2021. Pet Valu's Canadian operations, a separate company, will not be impacted by the layoffs.

According to a company statement from Jamie Gould, the company's Chief Restructuring Officer, "The company’s stores have been significantly impacted by the protracted COVID-19-related restrictions. After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down.”

However, the real reason appears to be the company's ability to compete with large pet stores such as Petco and PetSmart, the big-box retailers like Walmart and Target, and the e-commerce sites which offer lower prices and convenience -- especially in times of Covid-related lock-downs.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT PETSMART AND CHEWY?

London, England-based BC Partners, the British investment and asset management company is leading a group to reorganize and financially restructure Phoenix, Arizona-based PetSmart, a retailer selling pet products, services, and small pets see the separation of Dania Beach, Florida-based Chewy, Inc., an online retailer of pet food and other pet-related products, as an independent entity and the recapitalization of PetSmart.

Like all reorganizations and recapitalizations, they are followed by consolidations and cost-cutting reductions in force.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?