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Edited Date/Time
4/8/2023 6:03pm
Bummer news from Bell
Monkey see, monkey do.
Let’s fire a large chunk of our employees and force the remaining employees to work harder for the same pay! Share holders love this one simple trick!
Not the way it works lol
I'm guessing it's more of a consolidation of bell and fox staff. Not to mention the zillions of other brands they own.
Fox also saw some layoffs as well, there would be redundancies between each company's MTB and MX divisions.
The Shop
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DeCal Works Huge Plastic Inventory of UFO and Polisport kits.
That's completely, exactly, precisely the way it works a large percentage of the time.
BELL and Giro will move into FOX building soon. One big happy corporation🤣
Yeah, I'm sure they're just being greedy, and making record profits. And it's not like we're teetering on the edge of a recession.
Buckle up. Wars don't come cheap, and those billions we've donated will cost billions X2 to replace.
Probably wasn’t too smart to print hundreds of billions of dollars in the past few years…
Yes.....this is the facts. Layoffs have multiple legal requirements and if they are losing money and have to reduce expense, that is part of running a business big or small. Payroll is always the largest controllable expense and if the revenue is not there, eventually something has to give.
No, it's not.....and if that is the case there were far too many people operating at low productivity....so maybe working more actually means pulling your weight and creating a return on investment (investment being your paycheck).
You sound like someone who would have zero problem laying off employees
300 dollar gearsets, 700 dollar boots, 900 dollar helmets.. I cant believe things are slowing down!
I agree with Falcon. This is how the game works.
Further, no longer are these companies (Fox, Bell etc.) run by founders that wanted to build great products.
These companies were sold to a conglomerate that is run by bean counters. Accounts. With out making this a 2-page reply there were some decent things that were done in the case of Fox Factory. But by and large the folks with passion, the product driven guy/gals that built the business... they are pushed aside by the bean counters 1-4 years after the acquisition.
And if you read that press release it’s classic. “Inflation, inventory levels….. operational expenditures”…. Well, were in a market pull back after a long expansion. This is how the world turns. It’s cyclical. The fact that they put pressure on the CEO to step down tells me the CEO probably has a clue and gets it’s a cycle… that he was doing his best to keep the team together and ride it out. Knowing they were going to take a margin/profit hit. Which is what smart companies do. But the bean counters… oh they can’t have that! They have their faces buried in Excel an can’t innovate if they had to save their lives. Sad…. Trite.
You must know the numbers when running a company. But you can NOT run a company solely by the numbers. And friends don’t let an accountant run your company!
Actually, I was laid off in November smartass.....but I also understand how the world works.
If it was your business and there were 5 employees working for you.....but you genuinely could only afford four because projections were off, revenue just wasn't there, and wouldn't be for the foreseeable future.....do you lose your company or lay off 20% of your staff?
Vista Outdoor’s sales decreased by $40 million, gross profit declined 15%, gross profit margin decreased significantly, operating expenses rose 16%, earnings before interest and taxes (EBIT) were down 39%, and Fully Diluted Earnings per Share (EPS) dropped 44%.
This explains a lot.
Those yearly or qtr numbers? And what is the gross revenue number .... the one they are saying they are off by 40 million?
During the FY23 Q3, which ended December 25, 2022
Pit Row
Or the alternative, have too many employees, fail to make a profit, go out of business and nobody has a job and shareholders are very unhappy. Many times what is good for shareholders is ultimately good for employees, isn't it?
My apologies ahead of time, I really mean no offense. But I own a business, most of my friends are business owners, this is a sensitive subject to me. But the old socialistic idea that companies find joy or are looking to punish or wreak havoc in the lives of their employees is simply not true. There are many, many business owners that would take a bullet for their staff, and sacrifice for the people that work for them. But sometimes hard decisions have to be made. Sometimes a business has some bad employees too. Some years are not as good as past years. Before you label a business owner as a blood letter, think to yourself how many people you work with are competent employees who care about their jobs. And yes, this even applies to a big business.
This thread definitely has a non moto vibe
Covid boom. Post Covid doom.
It's not that sales are necessarily going down that is the issue. So many brands had a super hard time getting inventory with any regularity so they would make bigger orders so that they could go longer between shipments. But then the lead times shrunk very quickly so a lot of brands ended up getting totally dumped on with inventory. So if you have 3x as much on hand than you need you start to freak out and do things to cut costs to help with the added overhead. Also a ton of brands/companies were bought and sold the last few years so there will certainly be more layoffs to reduce redundancies. I think sales are still going well for most brands but there will be some leveling out for sure.
I’d love to see what happens after all these moves are done. My bet is the executive team gives themselves bonuses.
Can’t believe how hard people here simp for big business.
Can’t believe how hard people want to villainize business leaders at every. fucking. turn.
8ten, I think you and I are in agreement here. If you need to cut payroll, you do it. The business needs don't change, so the remaining employees have to pick up the slack.
I currently own a business and prior to that worked in management for a very large company. There’s a right way to do things for your people and there’s a wrong way to do things.
I agree on that side, but if the business is down there is likely less work to be done.....or the business was overstaffed to begin with causing low productivity. There are a ton of variables, but during the pandemic many outdoor/powersports companies staffed up a ton due to demand and that demand is around 50% of what it was in 2020/2021/early 2022 so the staffing is likely not needed. Think of it like seasonal employees. If the workload drops, it is not more work for those still there.
I get 50 percent off bell and I still can’t afford their helmets. 😂
There's a large difference between the local 'Harry's Cycle Shop' and a billion dollar conglomerate. Nobody is going to villainize the mom and pop shop if they're making tough business decisions to stay afloat. Color me jaded but I think Vista Outdoors would've been just fine regardless...
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