Publix did a
accounting correction that cost the stock holders more than 8million dollars chain wide on the saturday before easter. They changed the way their weeks account for their
payroll week by adding a extra day to the stores PNL 8 days to
payroll. It just happen to be one of the days that you would use the most
payroll on.
Bad decision who ever made it, the stock holders will never see that 8 million again. Why I ask?
no prior notice just a extra charge for that week. They say it was to get things matching up, well they didn't change the system the stores use for calculating their
payroll or the way store
accounting in the whse does their work, now every week
accounting has to transfer out hours and transfer in hours to the stores PNL. How much
payroll will be wasted on this procedure every week.
1. Written by Joyce, on 29-03-2009 17:03
Publix needs to clean the house starting with the board of directers all the way down to the managers in the stores and hire honest and good decent people that won't take advantage of their position.
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2. Written by J, on 30-04-2008 19:26
 I was very upset with that as well. I'm not sure how strict your store is IPLH but that hurt our store bad. I was hoping that our store would look good on the P&L because of business that week and it looks like it hurt it.
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Consumer Forum is another great place to discuss consumer concerns NOT RELATED to this article. |
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