Ellies begins Section 189 restructuring - promises to "minimise possible retrenchments"

Jan

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Ellies announces staff retrenchments

Electronics importer and distributor Ellies has informed shareholders that it will be restructuring “certain operational functions” within the company.

“This is pursuant to ongoing constrained trading conditions being experienced by the Group,” Ellies stated.
 
Even as a fairly clued up person when it comes to inverters I find their offering confusing.
It should be better branded and sold more easily - including home setup and delivery.
For example, when I bought mine a few years back, it did not have the right "plug fitting" and it took me a week of running around to get one.
 
Absolute management failure as far as strategy around marketing, etc goes. Should rather prune senior managers out instead of the foot soldiers who have most likely been doing their jobs. It's true that Ellies should have been booming right now.
 
Sounds very much like a management failure. I was also surprised to see a very limited range of power cubes.
 
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As always, they'll never start at the top. Management sets the strategy for the company. if it has failed, employees below pay the price.
Nice to be on top!
 
Ecom is killing the requirement for unreliable human staff
 
They used vaccine mandates knowing they would be retrenching to remove employees without severance. They have been paying settlements left right and centre at Ccma . The business is Rotten at board level the CEO knows no accountability
 
Paul Williams said:
They used vaccine mandates knowing they would be retrenching to remove employees without severance. They have been paying settlements left right and centre at Ccma . The business is Rotten at board level the CEO knows no accountability
Click to expand...
Tell us more :popcorn:
 
Paul Williams said:
They used vaccine mandates knowing they would be retrenching to remove employees without severance. They have been paying settlements left right and centre at Ccma . The business is Rotten at board level the CEO knows no accountability
Click to expand...
Well if you look at MyBroadbands reports previously which unfortunately for what ever reason they have not updated since august you ll see that they raised the questions and everything Ellies denied came to light soon after

NOT SURE IF MYBROADBAND GOT SPOOKED OR THREATENED BY ELLIES UPON THE LAST REPORT as they have not updated upon that last devastating news reported

Since then however ….

I don’t know any business that comes out to the market reporting restructuring blaming covid and all sorts

And LITERALLY TWO DAYS LATER

Comes out again to the market stating to caution trading of the share price IN VIEW OF THIER PURSUIT OF ACQUISITIONS

ACQUISITIONS ????

Acquisitions when your supposedly in such dire straits you have to retrench people putting them out of job

I kid you not this happened not so long ago

Monday : we retrenching things are bad

Wednesday: we are looking for businesses to acquire

Wow just wow
 
Paul Williams said:
They used vaccine mandates knowing they would be retrenching to remove employees without severance. They have been paying settlements left right and centre at Ccma . The business is Rotten at board level the CEO knows no accountability
Click to expand...

Paul Williams said:
Well if you look at MyBroadbands reports previously which unfortunately for what ever reason they have not updated since august you ll see that they raised the questions and everything Ellies denied came to light soon after

NOT SURE IF MYBROADBAND GOT SPOOKED OR THREATENED BY ELLIES UPON THE LAST REPORT as they have not updated upon that last devastating news reported

Since then however ….

I don’t know any business that comes out to the market reporting restructuring blaming covid and all sorts

And LITERALLY TWO DAYS LATER

Comes out again to the market stating to caution trading of the share price IN VIEW OF THIER PURSUIT OF ACQUISITIONS

ACQUISITIONS ????

Acquisitions when your supposedly in such dire straits you have to retrench people putting them out of job

I kid you not this happened not so long ago

Monday : we retrenching things are bad

Wednesday: we are looking for businesses to acquire

Wow just wow
Click to expand...

Have a beer dude, relax
 
Paul Williams said:
Well if you look at MyBroadbands reports previously which unfortunately for what ever reason they have not updated since august you ll see that they raised the questions and everything Ellies denied came to light soon after

NOT SURE IF MYBROADBAND GOT SPOOKED OR THREATENED BY ELLIES UPON THE LAST REPORT as they have not updated upon that last devastating news reported

Since then however ….

I don’t know any business that comes out to the market reporting restructuring blaming covid and all sorts

And LITERALLY TWO DAYS LATER

Comes out again to the market stating to caution trading of the share price IN VIEW OF THIER PURSUIT OF ACQUISITIONS

ACQUISITIONS ????

Acquisitions when your supposedly in such dire straits you have to retrench people putting them out of job

I kid you not this happened not so long ago

Monday : we retrenching things are bad

Wednesday: we are looking for businesses to acquire

Wow just wow
Click to expand...
Which division of Ellies do you work under?
 
Paul Williams said:
Well if you look at MyBroadbands reports previously which unfortunately for what ever reason they have not updated since august you ll see that they raised the questions and everything Ellies denied came to light soon after

NOT SURE IF MYBROADBAND GOT SPOOKED OR THREATENED BY ELLIES UPON THE LAST REPORT as they have not updated upon that last devastating news reported

Since then however ….

I don’t know any business that comes out to the market reporting restructuring blaming covid and all sorts

And LITERALLY TWO DAYS LATER

Comes out again to the market stating to caution trading of the share price IN VIEW OF THIER PURSUIT OF ACQUISITIONS

ACQUISITIONS ????

Acquisitions when your supposedly in such dire straits you have to retrench people putting them out of job

I kid you not this happened not so long ago

Monday : we retrenching things are bad

Wednesday: we are looking for businesses to acquire

Wow just wow
Click to expand...

That is not nearly as strange as you think it is. If you are restructuring the business and there are smaller players that will assist in exploiting a new market it makes sense to acquire them rather than trying to build your own department and compete. Retrenchments are never nice but they are part of business.
 
B-1 said:
That is not nearly as strange as you think it is. If you are restructuring the business and there are smaller players that will assist in exploiting a new market it makes sense to acquire them rather than trying to build your own department and compete. Retrenchments are never nice but they are part of business.
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They cry poverty and in the next sentence entice the market to punt thier share in view of so called acquisitions

Sales has always been Ellies strength

Their best sales people have up and left at National level

Down below the restructuring has been in view of sales teams and replaced with third party marketing teams WHICH ACTUALLY MEANS GLORIFIED SHELF PACKERS

The next section 189 which will be performed early next year targets distribution ie warehousing staff

Bare in mind Wayne Samson the former CEO was bombed for introducing third party warehousing

Only form Ellies to take up this option now

These guys have no idea wether they coming or going
 
TheChamp said:
Their whole business model is flawed, how they still don't avea online shop in 2022 is a mystery.
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Was something that was requested 5 years ago and never addressed despite the current CEO upon his arrival declaring they need to technology leaders laughable but really sad in reality
 
TheChamp said:
Their whole business model is flawed, how they still don't avea online shop in 2022 is a mystery.
Click to expand...
Your absolutely spot on

The current CEO upon his arrival went branch to branch declaring I’m for the people I will turn this around things are going to different i will be hands on to the degree I will frequently visit the branches nationally engaged with you the employees because I value you

FYI he went once to face the music and never went back

Has sat on his high horse for 3 years deciding to replace Clover milk for no name milk or cost saving and that’s not an exaggeration that’s what he did

Milk bread butter for staff

He came in and all he achieved is cutting costs

No innovation no inspiration

All he does is meet with the bank managers who own Ellies

It’s no wonder Ellies only turned a profit in covid conditions when they fortunately had an over stock when competitors had no stock

None the less I won’t harp on anymore

It’s sad decline and a rapid fall from grace

No one wants a business to fail

Especially when innocent hard working people lose jobs as result of puffed up arrogant board members who know nothing about the business choose to impose themselves at the decline of others
 
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