A Tale from the Friedman's Trenches

I received this email last week from Greg (he asked us to keep his surname confidential); a now-former regional vice president for Friedman’s. He sent us his story in the hopes that others will learn from his experience. Other than our hearty thanks for his lovely and unsolicited plug for JCK, we’ll let Greg tell his story in his own words:

I am an avid and long term reader and lover of JCK. I simply wanted to send you this brief story that I am living through currently. I know it will not make a difference in my situation. However, it will make me feel better and hopefully help others avoid the same mistake I made.

For the past 18 months I have been working as regional vice president for Friedman’s Jewelers. Prior to making the move to Friedman’s I had a very successful 15 year career with Sterling Jewelers. I worked at all levels with Sterling: store manager, district manager and vice president of regional operations. 

In May 2006 I was approached by the executive vice president of Friedman’s. He offered me ‘the world’ to come on board with Friedman’s: they have a new home office, stock options, room to grow and to take on new opportunities, he said. It all sounded too good to pass up!

I took the opportunity and left my secure job with Sterling. I think you know where this story is going.

As you know, Friedman’s has recently entered bankruptcy for the second time in three years. They appointed a new CEO who has an impressive resume but no jewelry experience. On Monday [Feb. 18] I received a phone call from Friedman’s director of human resources. In an abrupt and hurried manner he informed me that my employment with Friedman’s had been "eliminated."

The message came as quite a shock to me simply because the region I had been supervising had completely out performed each of the other regions consistently. (And especially in December.) I inquired as to how the decision was made, and asked if performance had been considered. I was told that it had not been considered but it came down to simple logistics: whoever lived in an area needing coverage got to keep their job.

I then asked about the severance package that was in my written agreement of employment. With a chuckle I was reminded that we were in bankruptcy and all agreements were null and void. I asked if my boss had considered making the call as opposed to a director. I was told to call my boss myself.

Here I am today, out without secure employment or benefits to cover my family. I am confident that I can and will find a good company, and, of course, I would gladly go back to Sterling if they will have me.

I just find this situation frustrating and a bit unnerving.

Finally, what upsets me almost as much: My region won a contest in support of St. Jude’s Children’s Hospital in December. The prize was supposed to be a trip to the facility in Memphis to meet the children. This too has been taken from me.

Enough of my story. I am simply hoping that you may consider publishing my story. Or at least pass along my message that "if a company sounds too good to be true" it probably is!

Well, it’s on with my search for gainful employment in the jewelry industry! Any ideas for me?”

So that’s Greg’s story, and yes, as you can see, we “considered publishing it.” We did verify his employment with Friedman’s, and that his dismissal was indeed due to a reduction in force and was not performance-related, as he states. But if there’s one thing to be learned from Greg’s experience, as he states, I guess it’s that if you’re being recruited by a company just emerging from bankruptcy, have an attorney review your offer before signing on. We wish Greg the best of luck finding a new position soon!

Update:  Comments for this post have been deleted.