Employees forgotten as ship sinks
Now that the inevitable has come about and Sears is going down, how large are the bonuses to executives going to be? After all, shouldn’t they be rewarded for their efforts?
It’s been a long and arduous journey, with some tough decisions, like having to cut off benefits to employees so they could get bonuses. And now that it’s time to liquidate they need to make sure they get at least one more bonus, and the Golden Handshake in the form of severance packages, and don’t forget they also need to ensure their pensions are protected. After all, they have a lifestyle to protect and maintain and they can only do that with the financial stability that comes with being an executive.
And what about the 12,000 — yes, 12,000 — remaining employees who they expect to stay on while they liquidate, and stay to the very end? Without bonuses, severance pay, benefits, or any financial stability when they are forced to look for another job. After all, they have a lifestyle to maintain as well, a lifestyle that requires a weekly pay-cheque, a lifestyle that comes with being an employee. An employee who works to survive, working for others who live quite comfortably on their efforts. An employee who remained loyal even while the company cut their hours in the hopes they would quit so they would not be eligible for any kind of severance. And when that failed the company got permission from the court to not pay the severance that these employees are legally entitled to.
Once again, employees get the shaft while executives are surely to get rewarded for their efforts. There is something disgustingly nauseating about it. Doug Keller Belleville