Massive layoffs at KB Toys

Full story: Berkshire Eagle

KB Toys filed for Chapter 11 bankruptcy protection in Delaware on Thursday and plans to lay off 240 of its 270 employees at its corporate headquarters at 100 West St.

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SAL

Lincolnton, NC

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#1
Dec 12, 2008
 
Well-- I rather think we would be doing a heck of a lot better if we had REPUBLICANS in charge of our country-- Obama will have to work hard to keep out country from getting worse than it is now. I don't think much good about the demokrats.

AND Chicago!! what a mess.
The Rev

Waltham, MA

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#2
Dec 12, 2008
 
Sal get a grip, the repulicans have an equal share in this mess.
gtb

Great Barrington, MA

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#3
Dec 12, 2008
 
Sal we do have republicans in charge of this country. what are you talking about? I believe President Bush is a republican. The problem is he did not take this recession seriously, at least four years ago, and put anything in place to stop the slide. Sen. Obama has a huge mess to tackle; not of his making. You should be thankful that there are new people taking a fresh look at the mess.
whos been in charge

Ludlow, MA

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#4
Dec 12, 2008
 
SAL wrote:
Well-- I rather think we would be doing a heck of a lot better if we had REPUBLICANS in charge of our country-- Obama will have to work hard to keep out country from getting worse than it is now. I don't think much good about the demokrats.
AND Chicago!! what a mess.
whos been in charge for the last 8 yrs still cant get over the people our sick of the crap that the republicans got us in to and were ready for a change to bad. Greed on the ceos part hurts companys all the time (now we wait and see how long it takes to get out of this mess the republicans got us into) walmart sucks people shouldnt shop there massavie boycott everyone from the workers to the people in the community get screwed when walmart comes along they get there toy from china who pay there workers 4 dollars a day and walmart no this watch walmart exposed on cnn and how they try to say its good for americans yeah if you want low wage jobs and good jobs closing so you can save money on a tv that cost 720 dollars but really sucks stand up people dont shop there they did it in cali and walmart didnt put there store there I heard sears and best buy our leaving the berkshire mall
Inside-Lookin-OU T

Clifton Park, NY

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#5
Dec 12, 2008
 
There is going to be a domino effect that will run rampid through the county because of this! Years ago KB walked the people who knew what they where doing to the front door, and wished them well in thier future job hunting!! Associates who were hired at entry level jobs, are now running departments,....get the picture??!!! I personally wouldn't vote for Andy Balin to be the "DOG CATCHER", he's not quailfied for that job either!!
The Rev

Easthampton, MA

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#6
Dec 12, 2008
 
Inside-Lookin-OUT wrote:
There is going to be a domino effect that will run rampid through the county because of this! Years ago KB walked the people who knew what they where doing to the front door, and wished them well in thier future job hunting!! Associates who were hired at entry level jobs, are now running departments,....get the picture??!!! I personally wouldn't vote for Andy Balin to be the "DOG CATCHER", he's not quailfied for that job either!!
So true, they had a better than 60% turnover. Those 'core" employees left simply couldn't do the job. In the department I worked in, the number is close to 80%.
arpaint

Holyoke, MA

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#7
Dec 12, 2008
 
what is the mayor going to due when people abandon there homes because they cant sell them and don't have a job. then he will have no choice but to cut spending like he should have done a long time ago and can anyone tell me why the police need a 4 wheel drive truck.
Sara

Queensbury, NY

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#8
Dec 12, 2008
 
This is a very sad time for the families who depended on that to pay thier Christmas bills. I have a feeling that Pittsfield is going to become an even sadder place over the months to come. Maybe Obama can make some things right but he isnt going to be able to help all these families directly.
GetMyViolin

United States

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#10
Dec 12, 2008
 
One could be sympathetic the first time the company went through Chapter 11 bankruptcy, but how many times does a company need to face such restructuring before addressing the problems underlying their basic business model?
Get Over It

Deerfield, MA

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#11
Dec 12, 2008
 
What's the bid deal. If they had 270 employees and 240 are given their freedom, 30 people still have a job. Celebrate the positive.
Dave Casey

Dalton, MA

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#12
Dec 12, 2008
 
arpaint wrote:
what is the mayor going to due when people abandon there homes because they cant sell them and don't have a job. then he will have no choice but to cut spending like he should have done a long time ago and can anyone tell me why the police need a 4 wheel drive truck.
Ditto to all you wrote.I,ve been suggesting to mayor/police, to rent out the "Camper" parked down by the "transportation center" what a waste that was.Maybe Jimmy will be handing out free admissions at Park Square this weekend to the new cinema soon to open on North St. Millions given away when real needs were ignored.
jus me

Clifton Park, NY

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#14
Dec 12, 2008
 
I would just like to say I'm sorry to all of those affected. I know where you're coming from..
IRA

Dalton, MA

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#15
Dec 12, 2008
 
GetMyViolin wrote:
One could be sympathetic the first time the company went through Chapter 11 bankruptcy, but how many times does a company need to face such restructuring before addressing the problems underlying their basic business model?
The ship can only stay afloat for so long when its "top-heavy", just like the Big Three.
Former KB

United States

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#16
Dec 12, 2008
 
I worked there several years ago, and it was top heavy then. When the company went "Private", the then CEO and top management drained the company of money to pay themselves and laid off a bunch of veteran people. It went from being a great place to work, to being a dreaded prison of a workplace. I hope everyone left there had a plan for when the inevitable happened.
Florida

Largo, FL

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#17
Dec 12, 2008
 
KB toys Top management shoud have stashed more cash away when they filed for pretection the 1st time.Now they are going to liquidate everything. This is what happenes hen you get Top management that rely on credit markets to fund operations and over extend credit that they know they cant pay back unless the economy is good, and we all know that there were plenty of signs that the economy was going to tank especially housing and that should hve been there #1 sign. Its just another perfect example of companys that have bad management and I dont say that they are bad beacuse they nice people I say bad as in the way they managed the company to its demise......
GetMyViolin

United States

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#18
Dec 12, 2008
 
Former KB wrote:
It went from being a great place to work, to being a dreaded prison of a workplace.
A dreaded prison of a workplace?
Were there armed guards forcing anyone to work at K-B?
Save Money

North Brunswick, NJ

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#19
Dec 12, 2008
 
join a UNION!!!!!!
Prisoner

United States

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#20
Dec 12, 2008
 
GetMyViolin - you must be a former warden???
Sad Day

Queensbury, NY

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#21
Dec 12, 2008
 
Former KB wrote:
I worked there several years ago, and it was top heavy then. When the company went "Private", the then CEO and top management drained the company of money to pay themselves and laid off a bunch of veteran people. It went from being a great place to work, to being a dreaded prison of a workplace. I hope everyone left there had a plan for when the inevitable happened.
I worked at KB up until today and it was a great place to work. A lot of people were truly sad today because of the friends we will be leaving. It was sad when we lost a lot of people last year but knowing this was the end today was really heartbreaking.
John Maynard Keynes

Clifton Park, NY

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#22
Dec 12, 2008
 
Save Money wrote:
join a UNION!!!!!!
Yes. We all see how union jobs saved the US auto industry. If KB's employees were unionized then perhaps they could hold out for a bailout.

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