by Spencer Fernando
july 14, 2017
Punishing loyalty while rewarding failure
Sears Canada is betraying workers who gave their loyalty to the company, while rewarding the same executives and top managers who led the company to failure.
Sears is cutting 2,900 jobs, and isn’t paying any severance to those workers – many who gave decades of service to the company .
And yet, Sears is giving $7.6 million to 43 top execs and senior managers.
Disgustingly, Sears says the huge bonuses are “necessary to keep key staff.”
This is similar language to what Bombardier, not to mention the big banks after the 2008 crisis, use when giving out huge bonuses. It’s total BS. They say they need to pay for top talent, but if the talent at the top was so great they wouldn’t be declaring bankruptcy in the first place.
It’s a total fraud.
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