hedge funds buy them and cut costs like crazy and eventually the company dies but they make shitloads of profit in the few years that they own it while the company reputation slowly goes from decent to awful and people stop going and it shuts down. capitalism is eating itself.
Pretty much this. Staples got bought out by a private equity firm for its online business, which is apparently very profitable. In my last year with the company we were told that the brick and mortar side had actually become profitable as well, yet we never saw much c change in so far as budgeting and labor hours. As a matter of fact labor hours were cut.
hedge funds buy them and cut costs like crazy and eventually the company dies but they make shitloads of profit in the few years that they own it while the company reputation slowly goes from decent to awful and people stop going and it shuts down. capitalism is eating itself.
Pretty much this. Staples got bought out by a private equity firm for its online business, which is apparently very profitable. In my last year with the company we were told that the brick and mortar side had actually become profitable as well, yet we never saw much c change in so far as budgeting and labor hours. As a matter of fact labor hours were cut.