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USA: Wayfair workers to walk out to protest management decision to supply detention centre; CEO rejects their plea
Author: Peter Cohan, Forbes, Published on: 26 June 2019
"3 Reasons To Sell Wayfair On Today's Employee Walkout", 26 Jun 2019
This afternoon at 1:30pm employees of Boston-based online furniture retailer, Wayfair, plan to walk out of work to protest its decision to sell beds and other furniture to a U.S. government detention center. According to the Boston Globe, Wayfair announced Monday that it would supply BCFS, a government contractor, with beds and other items for a detention center in Carrizo Springs, Texas for up to 3,000 teenagers -- generating $200,000 worth of revenue -- and an estimated $86,000 in profits... On June 21 About 550 Wayfair employees signed a letter to company executives asking that they cease all business with contractors that operate detention camps for immigrants. According to the Post, Wayfair's letter to employees declined their request: "As a retailer, it is standard practice to fulfill orders for all customers and we believe it is our business to sell to any customer who is acting within the laws of the countries in which we operate. Your fellow employees hold a wide range of opinions and perspectives and Wayfair, as a mass-market brand, is oriented to serve a broad and diverse customer base."...Wayfair's move is a strong sell signal for investors in its stock:...1.) It demonstrates weak cost-benefit analysis..., 2.) It puts Wayfair into a political firestorm that could damage its brand,...3.) It will make it harder for Wayfair to attract and retain talented employees...
Related companies: Wayfair