This might seem lengthy, but I'm compelled to share the entire truth.
I spent over five years working at Five Below, and it's heartbreaking to see how drastically the company has changed since I joined. I left a company in decline and moved my family to work at Five Below, which was once a great place to work. Regrettably, it has turned into a toxic, chaotic environment with poor leadership, a worsening culture, and constant job insecurity. The new CIO from Adidas, who is unsuitable for the role is one of the primary issues with the department and company.
Management decisions, time and again, are poor and short-sighted. Over the years, I've witnessed the company making one poor decision after another, which has negatively impacted morale, productivity, and overall success. It seems no one in leadership has a firm grasp on the company's long-term strategy, and they're more focused on appearing good in the short term than fostering sustainable growth.
The company culture has become completely toxic, and the shift is palpable. It used to be a collaborative and innovative workplace. There's a lack of trust across all levels, and employees are afraid to speak up or suggest improvements for fear of being ostracized or, worse, being laid off. The environment has become increasingly toxic.
Moreover, the leadership team and those in positions of power are dishonest. We've been misled multiple times about the company's financial stability and future plans, only to see mass layoffs occur without warning. Over 50 people were let go in a single layoff, including me, with zero notice or preparation. It was devastating to watch so many dedicated employees, many of whom had been there for years, lose their jobs in a single day. What's even more astonishing is that they offered C-Level executives $1.5 million to stay since the CEO left back in June. It's hard to have any trust when they lay off over 50 people but offer $1.5 million to the executives who've made poor decisions. Clearly, they do not care about the employees who actually drive the company forward, and it's no surprise the stock prices continue to decline.
And to top it all off, employees were told there are more layoffs on the horizon if Q4 is poor. The sense of instability is overwhelming, and it's demoralizing to work in an environment where you constantly feel like your job is on shaky ground. Instead of working to build a better future for the company, management seems more focused on reducing costs, and it's clear that employee well-being is not a priority.
In conclusion, if you're considering working at Five Below, I urge you to think twice and explore other options. The company has lost its way and become a place where loyalty is ignored, integrity is in short supply, and the culture is toxic. The poor management decisions, the rampant nepotism, and the constant fear of layoffs have made this a toxic workplace. It's a shame to see such potential go to waste, but unless there's a complete overhaul of leadership, I would not recommend this company to anyone.
