Freeman

In Serious Financial Trouble - Anonymous employee Freeman Employee Review

2.0

May 21, 2020

Anonymous employee

Recommend

CEO approval

Business Outlook

Pros

Talent levels in leadership (my dept) was excellent - primarily due to recent outside hires. Most were willing to coach, mentor and support their team members and routinely invested in them. The organization has recently committed serious money to transforming their archaic systems and business processes, which also has contributed to the improved talent levels. This new infusion of external talent was (is) driving much needed process discipline and maturity, leading to and achieving needed agility and growth. All was looking up! Then, COVID-19 hit and Freeman has experienced massive revenue losses, resulting in extreme levels of employee furloughs (rumored to be 85-90%). Freeman IS their people. Talent is leaving in droves and fears of bankruptcy or sale to an outside entity looms heavy on remaining employees.

Cons

Massive employee furloughs (rumored to be 85-90%) due to COVID-19 has depleted the once thriving organization of its talent. Their people is what made Freeman what it has been for 93 years! Revenue losses due to almost ALL planned shows cancelling through Spring of 2021 (they did not have/require cancellation insurance) has put the company in financial disarray. As an employee, this means continued pay reductions, no bonuses and no new project work for the foreseeable future - estimated for 18-24 months, or until the events industry improves from COVID-19. Freeman is a target for sale, bankruptcy or PE takeover. Truly sad for this once thriving, family-owned company.

Freeman Response

Thank you for sharing this feedback. The impacts of the shutdown cannot be overstated. Our world is certainly feeling the strain of the pandemic, and Freeman is no exception. As we navigate the impact COVID-19 has had on our people, industry, and the world, our values remain the same, and we continue to put our people and customers first in every decision we make. While decisions like furloughs have been very difficult to make, they have been necessary to help Freeman navigate these uncertain times. While we have a long road ahead, we are confident Freeman will emerge from the pandemic better because of the strength of our people. If you have ideas, concerns, or questions, please reach out to your leader or our Human Resources Department.

In Serious Financial Trouble - Anonymous employee Freeman Employee Review

Explore other reviews about Freeman

Want the inside scoop on your own company?

Bowls

Followed companies

Job searches