- Senior Management
- Dejected Workforce
- Recent Braindrain
- Wishy Washy Decision Making on Projects Causing Incredible Expense and Dissatisfaction by Those Working Hard Only To See No Fruit From Their Labor
- Lack of Direction
The decisions around company direction and project focus are very scattered. No two executives could tell you similarly what the direction of the company is. Projects are reactionary to what other sites already do, not innovative by any means. An amazing amount of resources and money are put into projects that are not thought through, resulting in complete stoppage of a project only to move on to something similarly thought through.
Prices and quality of merchandise are poor, which is what the company should be working to improve, instead of looking to do everything it can as fast as it can. Instead of focusing on core values and a standard business model, anything and everything are brought to the table and pushed.
The number of people with deep Overstock knowledge combined with industry experience and intelligence leaving Overstock is kind of staggering. I want to say it is due to firings (which have occurred often since mid 2011) but the truth is most are leaving on their own because they see a sinking ship. Confidence among workers is at an all time low. Per their own stated results, the only reason O.co made a profit in Q1 2012 is because overhead/workforce was diminished so severely.
Unless significant change to senior management occurs, I fear this company is not going to survive or will become a shell of its former self. This is an opinion I've heard directly from internal employees including from multiple at the VP level. The board needs to require a change in action instead of letting the chairman and other SVPs run rampant.
