Major Retailer Divests Visible Global Brand
The executives at a multi-national retailer had a tough decision to make: keep making a product that held sentimental brand value or divest this revenue underperformer that was consistently diverting resources away from core competencies. Propeller partnered with the executive team to determine the best path forward through robust scenario planning, all while keeping critical information confidential. The divestiture was ultimately the right choice, and following a very public announcement, the team had to execute on a complex reduction in workforce, a structural reorganization, and process realignment to support the larger organization’s future strategy. And it all had to happen over the course of a few weeks to limit operational disruption.
Propeller developed and executed a detailed divestiture and realignment strategy that included working with senior leaders to define the forward-looking people strategy and organizational and process changes. Executing the strategy involved internal and external communications, stakeholder management and other critical transition activities.
- CHANGE MANAGEMENT
- MERGER, ACQUISITION, AND DIVESTITURE
- ORGANIZATIONAL EFFECTIVENESS & ALIGNMENT
- STAKEHOLDER ENGAGEMENT
- PEOPLE STRATEGY
Reduction in workforce is always a complicated and sensitive process, because it involves an organization's most important asset: people. Even with numerous moving parts and limitations on time and on the distribution of information, the Propeller team delivered the most seamless plan and execution the organization had ever experienced. Trust in leadership and overall employee morale normalized after three months, and shedding the poor revenue performer improved the health of the business as a whole.