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Old 01-12-2023, 06:26 PM
 
34,002 posts, read 17,035,093 times
Reputation: 17186

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Quote:
Originally Posted by Stepfordct View Post
Poor pay. Well below industry norms. Never fired anyone for cause. Unless they committed a criminal act. Even then. Nepotism ran amok. Which made advancement tricky. Never knew which higher up was saving a position for a cousin, son etc…
The end result was a company ran like a Mom & Pop. Highly dysfunctional. The best and brightest left.
Culture is why I would expect, in the end, industry players not to buy them, but a consortium of PE will likely buy them. Hold them a few years, highly leveraged of course, then flip their majority share to a new group of PE firms.

Culture issues take more than a few years to cleanse at this large a company.

 
Old 01-12-2023, 06:38 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Quote:
Originally Posted by BobNJ1960 View Post
50 requires a notice. I think we can be sure less than 350 cuts were elsewhere, as today's column discussed the 400 cuts in the same paragraph stating the city knew 700 hq jobs existed in 2021 in Milford.

They know the law is not enforced, and sadly there are others, like Subway, who take advantage of that. This is NOT the first time they ignored that law.
According to this article, only 100 of them were in Connecticut. That was back in 2020. Remember too that there are multiple “companies” that make up Subway. It’s conceivable that less than 50 were laid off from one company.

https://www.today.com/food/subway-la...ndemic-t182305

And according to this article, they were hiring 50,000 in 2022 because of improvements to business. Obviously most of those were restaurant workers but some could be corporate as well. Because Subway is privately owned, they do not have to report employee numbers so it’s hard to find facts on it. The point is we just don’t know with any certainty. Jay

https://www.ctinsider.com/business/a...w-17213247.php
 
Old 01-18-2023, 02:02 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Campbell Soups is closing its Pepperidge Farm offices in Norwalk and relocating about 170 workers to headquarters in Camden, New Jersey. Pepperidge Farms was founded in 1937 by Margaret Ruskin, the wife of a New York City stock broker on an estate/farm by the same name in Fairfield’s Greenfield Hill. The company will keep its 400 bakery workers in Bloomfield, Connecticut. Jay

https://westfaironline.com/economy/c...workers-to-nj/
 
Old 01-18-2023, 02:13 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
In good news, Connecticut state tax receipts are surging and the budget surplus is now projected at a whopping $3.1 billion. In response to this, Governor Lamont is proposing both income and business tax cuts. This is phenomenal news and should help our state’s economy by making it more tax friendly. Jay

https://ctmirror.org/2023/01/17/ct-b...mont-tax-cuts/

https://ctmirror.org/2023/01/18/ct-t...ss-ned-lamont/
 
Old 01-18-2023, 02:39 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
According to this article in The Hartford Courant, Pepperidge Farm is actually expanding its Bloomfield bakery location. They don’t give numbers but say they have already begun hiring. That’s good news. Jay

https://www.courant.com/business/hc-...nwq-story.html
 
Old 01-18-2023, 04:21 PM
 
34,002 posts, read 17,035,093 times
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Quote:
Originally Posted by JayCT View Post
Campbell Soups is closing its Pepperidge Farm offices in Norwalk and relocating about 170 workers to headquarters in Camden, New Jersey. Pepperidge Farms was founded in 1937 by Margaret Ruskin, the wife of a New York City stock broker on an estate/farm by the same name in Fairfield’s Greenfield Hill. The company will keep its 400 bakery workers in Bloomfield, Connecticut. Jay

https://westfaironline.com/economy/c...workers-to-nj/
Most will be able to relo to NJ, as few cuts are expected.
 
Old 01-18-2023, 05:22 PM
 
Location: Northeast states
14,044 posts, read 13,917,236 times
Reputation: 5188
Quote:
Originally Posted by JayCT View Post
In good news, Connecticut state tax receipts are surging and the budget surplus is now projected at a whopping $3.1 billion. In response to this, Governor Lamont is proposing both income and business tax cuts. This is phenomenal news and should help our state’s economy by making it more tax friendly. Jay

https://ctmirror.org/2023/01/17/ct-b...mont-tax-cuts/

https://ctmirror.org/2023/01/18/ct-t...ss-ned-lamont/
Thank NYers with money who keep moving
 
Old 01-18-2023, 05:31 PM
 
9,874 posts, read 7,197,601 times
Reputation: 11460
Quote:
Originally Posted by BobNJ1960 View Post
Most will be able to relo to NJ, as few cuts are expected.
It's southern Jersey. IMHO, I doubt most will relocate.
 
Old 01-18-2023, 06:02 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Quote:
Originally Posted by robr2 View Post
It's southern Jersey. IMHO, I doubt most will relocate.
You could be right. When GE moved its headquarters to Boston, they were very surprised how many refused to relocate. That’s one of the reasons the company’s grand plan for new Boston headquarters got canceledand its then CEO was fired. Less than 200 made the move. Most chose to go to the company’s Norwalk offices instead. Jay
 
Old 01-18-2023, 08:10 PM
 
34,002 posts, read 17,035,093 times
Reputation: 17186
Quote:
Originally Posted by robr2 View Post
It's southern Jersey. IMHO, I doubt most will relocate.
I suspect their level of employment will be a key driver. If not, this is a nice addition to NJ job creation at an hq level.

Unlike GE, Pepperidge is not leaving alternative employment options in Ct for hq staff, unless they wish to seek greener pastures at other corporations.

Last edited by BobNJ1960; 01-18-2023 at 08:52 PM..
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