I am cited in Forbes about what may be the final chapter in Guitar Center’s degradation toward bankruptcy:
Guitar Center has been in and out of the news over the last few years mostly thanks to Eric Garland’s excellent analysis of the company’s woeful financial state. The huge musical instrument retailer has been treading water for some time, but now it looks like it might be readying itself to finally sink.
Nothing screams success like slashing the commissions of your salespeople by a whopping 75%.
If you know anything about sales, you probably know that this is not a good way to motivate salespeople, who evidently have something to do with cash turning up in the drawer.