[JayCT]

Originally Posted by BobNJ1960

I suspect their level of employment will be a key driver. If not, this is a nice addition to NJ job creation at an hq level.

Unlike GE, Pepperidge is not leaving alternative employment options in Ct for hq staff, unless they wish to seek greener pastures at other corporations.

How about Work From Home?

Also a mass rejection of a relocation would send a clear message that this move is not popular. And given the shortage of labor in this country, especially qualified labor, Campbell’s leadership may be in for the surprise of their life, as GE was. Will see. Jay

[Stylo]

Originally Posted by robr2

It's southern Jersey. IMHO, I doubt most will relocate.

I have a couple friends there that will not be.

Interesting because it wasn't that long ago they built the new HQ in Norwalk. I've been there a few times. I guess they figure consolidation is cheaper. It would be a nice building for another corp to move in.

[BobNJ1960]

Originally Posted by JayCT

How about Work From Home?

If they allow it, but a hq usually wants physical interaction. I am delighted they are not slashing most of the 170 positions. That is paramount.

We can safely assume, like Ct & Henkel, incentives depend on local hiring, so Pepperidge needs, in all liklihood, the usual half or so not to accept a relo to accommodate NJ hiring and maximize incentives to the company (tax credits). Corps try to keep that stuff quiet.

[BobNJ1960]

Originally Posted by JayCT

How about Work From Home?

Also a mass rejection of a relocation would send a clear message that this move is not popular. And given the shortage of labor in this country, especially qualified labor, Campbell’s leadership may be in for the surprise of their life, as GE was. Will see. Jay

Ironically, they are doing what Henkel did, btw. It took much persuasion, in many cases, a large % of staff got extra bonuses to get folks to leave Scottsdale, Az. A significant % still opted not to relo to Ct, btw. (In other words, those relocating often got not just relo and one bonus, but relo plus at minimum two large bonuses to persuade. Money talks, and it generally works. Upper management cherry picked who got "second" bonuses at Henkel to come, btw.)

Ct pulled a last minute shift, as the original Henkel deal had Ct losing the Sun acquisition group plus much of Rocky Hill to Az btw. Malloy outbid Az, and Az lost what it had which was a beautiful campus, btw.

In this case, Pepperidge is moving not just Ct hq, but NC office to NJ. They are consolidating the professional staff to one location.

Not sure if it will be popular, but $$$$$$ of package is what decides such deals. Plus, there is no Other Ct Pepperidge office to shift to, unlike GE which allowed option 2 while maintaining staying with the same employer. People can accept working in NJ or quit the company. I am sure they will be given a reasonable period of time, just like Henkel, to make the choice. In Henkels case, too, a large percentage did quit the company rather than move. I am sure Pepperidge, like Henkel, anticipated that.

[BobNJ1960]

Originally Posted by Stylo

I have a couple friends there that will not be.
.

Is the exit package good?

[robr2]

Originally Posted by JayCT

You could be right. When GE moved its headquarters to Boston, they were very surprised how many refused to relocate. That’s one of the reasons the company’s grand plan for new Boston headquarters got canceledand its then CEO was fired. Less than 200 made the move. Most chose to go to the company’s Norwalk offices instead. Jay

I don't believe it was ever GE's plan to move that many employees to Boston. Rather, the goal was 800 employees in Boston in order to meet the goals to have the tax incentives forgiven. Having a facility in Norwalk for lower level/paid employees to transfer to ensured only the highly paid would make the move.

GE's issue was that they never fully recovered from the financial crisis. They are still in Boston but with a much smaller footprint.

[SteveM85]

If you look at Campbell's most recent books it's clear they have the wherewithal financially for relo incentives and bonuses but here's the problem, none of those 170 are on the leaving CT FB page, not one.
The HQ is literally on the Norwalk/Westport line. For those employees that are Westport, Norwalk, and Fairfield, Milford based, central Jersey is going to be a tough sell. Can you imagine the reactions when they were told they may have to relocate from their dream life worlds to NJ - "Wait?? What??"

[robr2]

Originally Posted by BobNJ1960

Ironically, they are doing what Henkel did, btw. It took much persuasion, in many cases, a large % of staff got extra bonuses to get folks to leave Scottsdale, Az. A significant % still opted not to relo to Ct, btw. (In other words, those relocating often got not just relo and one bonus, but relo plus at minimum two large bonuses to persuade. Money talks, and it generally works. Upper management cherry picked who got "second" bonuses at Henkel to come, btw.)

Ct pulled a last minute shift, as the original Henkel deal had Ct losing the Sun acquisition group plus much of Rocky Hill to Az btw. Malloy outbid Az, and Az lost what it had which was a beautiful campus, btw.

In this case, Pepperidge is moving not just Ct hq, but NC office to NJ. They are consolidating the professional staff to one location.

Not sure if it will be popular, but $$$$$$ of package is what decides such deals. Plus, there is no Other Ct Pepperidge office to shift to, unlike GE which allowed option 2 while maintaining staying with the same employer. People can accept working in NJ or quit the company. I am sure they will be given a reasonable period of time, just like Henkel, to make the choice. In Henkels case, too, a large percentage did quit the company rather than move. I am sure Pepperidge, like Henkel, anticipated that.

Just like in the GE case, only the high paid, professional staff is expected to move. Low level employees that can easily be replaced will be replaced.

[SteveM85]

Originally Posted by robr2

Just like in the GE case, only the high paid, professional staff is expected to move. Low level employees that can easily be replaced will be replaced.

I bet more than half already gave their resounding "NO"s. From all levels, Sr. VPs down to staff analysts.
I'd put money on it. They don't care if they're easily replaceable or not. It won't be their problem.

[robr2]

Originally Posted by SteveM85

I bet more than half already gave their resounding "NO"s. From all levels, Sr. VPs down to staff analysts.
I'd put money on it. They don't care if they're easily replaceable or not. It won't be their problem.

We'll never really know.

But I'm sure that mid 6 figures employees in the consumer food marketing business aren't going to find new jobs locally. They may make the move.