Is it true ? Tesoro laid off all of its help?

[calabash digger]

Terry Soloman has a post on another forum that says this happened today.

[CTCurt]

You had me at Terry Soloman......

[AIRFORCEMIKE]

Humm ...wierd


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[slider66]

Originally Posted by AIRFORCEMIKE View post
Humm ...wierd


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That's interesting. I been emailing them for an RMA to fix my sand Shark. They never answered me. I called and they said just send it in with a note attached. They could very well be in trouble and I'll ve holding a bad detector.


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[jmaryt]

Originally Posted by calabash digger View post
Terry Soloman has a post on another forum that says this happened today.

i believe tesoro is restructuring and will emerge from this a stronger company!
my heart goes out to all who have been affected by this! i trust in tesoro's ability to rebound,and i know in my heart that they will! god bless everyone at tesoro!
a "first class" company!

(h.h.!)
j.t.

[calabash digger]

Hate to see anybody lose there job.

[Jason in Enid]

A former employee has also confirmed he and everyone else were just laid off without warning today.

[mortarman]

That's very sad news. I hope they do bounce back. From what I hear Prescott isn't that big of a town, hopefully all those employees will be able to get other jobs. Ironically, I just received a new Tejon yesterday. I guess I'll still send in the registration anyway, just in case.

[NCtoad]

It looks like, from the meet the staff pic on their website, that they have 23 employees. That sucks if they had no advance notice.

[DIGGER27]

Originally Posted by jmaryt View post
i believe tesoro is restructuring and will emerge from this a stronger company!
my heart goes out to all who have been affected by this! i trust in tesoro's ability to rebound,and i know in my heart that they will! god bless everyone at tesoro!
a "first class" company!

(h.h.!)
j.t.

Restructuring?
These are not exactly the moves of a company that is planning on doing that.
They blindsided their employees, they blindsided their dealers, Elton from Findmall called and talked to someone there and was told these moves were mearly damage control.
I told him he was probably lied to.
How is cutting off your only revenue stream "damage control"?
Are they waiting for detector fairies to show up with a bunch of new detector designs and then they plan on rehiring their workforce and everything will be better than ever?
Anyone that screws over their employees and dealers this way are not above lying about anything to anyone just to keep up appearances for as long as possible.
My theory, anyway, but I have seen other business owners act exactly like this and ultimately it was all a stall until they had a chance to squeeze all the money they could out of their business then they faded out as quietly as they could.

Like Sears if they had a smarter leader that made better more logical business moves both companies histories would have been written up differently.
Sears has been having the longest going out of business sale in history, they won't be around much longer.
Tesoro had a Luddite at the helm, it was never a big company and probably would have survived if they had done even a little of what other companies in our modern age do, have a presence on social media and communicate with their customers.
To bad Vince was no leader in any sense of the term.

Maybe a big company like First Texas will buy them.
If they did they probably might make a go of it and even improve some models or even come out with new ones but then it occurs to me why should they?
How much money can they really make off of them?
First Texas makes a huge amount of money on just their Bounty Hunter line being sold by the tons in most of the big box stores.
Probably a mess of bucks off their other lines too.
Their security division, I suspect, might even make more than than their entire hobby line.
They might have room in their big new warehouse/manufacturing plant for the Tesoro line but would it make business sense to take them on?
I doubt Garrett would want to take them over for similar reasons...I don't think they are as big as FTP anyway and might not have the resources or the interest.
Somebody else might buy them out and get things going again, an entrepreneur, but in this business are these old throwback analog tools exactly the kind of products you want to do a lot of investing in and take a chance on?
Sure if you had a new idea for a miraculous different kind of detector that nobody has seen before I can see going in full speed ahead but nobody I know except Tesoro was in the business of making money on decades old tech.
Even with better leadership it might be possible nobody can for very long.
Many of us loved them and still bought their product but in this day and age even with a small company like this is that enough?

Hopefully they will stay around in one form or another, still honor their warranties and supply their unique niche style detectors but only time will tell.

[Steve]

Which one is next? Equinox did some serious damage to those companies hanging on by a thread

[Tpmetal]

man they didn't even warn their employees???? thats enough to make me never buy one of their products EVER. even if they do bounce back.

[choppadude]

Originally Posted by Tpmetal View post
man they didn't even warn their employees???? thats enough to make me never buy one of their products EVER. even if they do bounce back.

People bust on unions but at least they give you protections against things like this.

[RWJR13]

....writing was on the wall for awhile...and when Rustys almost overnite retirement happened pretty much sealed the deal....

[BRJ123]

Originally Posted by choppadude View post
People bust on unions but at least they give you protections against things like this.

and all you have to do is pay them part of your salary your entire career and listen to their constant annoyances. what a deal.

[Scooterjim]

It sucks the employees were fired without notice, but we don't know the circumstances yet. Unless the law requires it very few companies are going to tell employees they are getting fired. A lot of employees ain't going to work all that hard, and there are some that wouldn't normally steal that will take anything that ain't bolted down. It's how I got my set of big wrenches

[tnsharpshooter]

It is a combination of things competition wise causing.

Like Equinox
Like Deep Tech series
Like Deus
Like Quest series
Like Makro series
Like Nokta series
Reduced prices of both Fisher and Technetic series detectors.

Just think, in the last few years how many other models are available to folks both new and used.

Market share for Tesoro has had to have shrunk.

And look at the prices of used units currently. Cheap.

Don’t be surprised to see some merges. I suspect highly Tesoro is not the only one struggling. Won’t say whom else. But folks I think know. Just think about which manufacturers seems don’t get the honorable mention vs yesteryear.

[needler420]

I got laid off too with little warning other then economy trends.

You feel bad for them but it ain't like you support their go fund me.

Basically thoughts and prayers they get a new job lol.

That is a capitalist free market, the alternative is ask them for a government bail out.


That is the circle of life. No one came to hold my hand and make sure I was ok when I got laid off. I care about my lifetime warranty.

[Steve]

Originally Posted by Tpmetal View post
man they didn't even warn their employees???? thats enough to make me never buy one of their products EVER. even if they do bounce back.

Well there's a reason for that.. what do you suppose would have happened if they had been given say a month warning in advance?
I'm sure the employees didn't depart with empty pockets. Bankruptcy is leaving with no compensation.. restructuring will give out something

[Jason in Enid]

Originally Posted by tnsharpshooter View post
It is a combination of things competition wise causing.

Like Equinox
Like Deep Tech series
Like Deus
Like Quest series
Like Makro series
Like Nokta series
Reduced prices of both Fisher and Technetic series detectors.

Just think, in the last few years how many other models are available to folks both new and used.

Market share for Tesoro has had to have shrunk.

And look at the prices of used units currently. Cheap.

Don’t be surprised to see some merges. I suspect highly Tesoro is not the only one struggling. Won’t say whom else. But folks I think know. Just think about which manufacturers seems don’t get the honorable mention vs yesteryear.

This is also where great customer service can cut your own throat! On top of the fact that Tesoro hasnt added any new technology in decades, they have been promising owners they would always repair their old detectors. So now you have thousands (10s of thousands??) of users out there with old detectors, no incentive to buy a new one, and an obligation to keep repairing those old detectors forever.

Another nail in their coffin was a lack to keep up with the emerging customer base. You can't live on yesterday's customers, you have to constantly recruit new ones. Millennials arent reading detecting magazines and most arent on forums but they ARE on FB, twitter, IG and other social media. Any company that ignores social media is already outdated and dying.