Thread regarding Sears layoffs

Severance Pay

If a store closes do all full timers regardless if you are hourly or salary or work sales get severance pay??? Just curious.

by | Post ID:
761 views | 11 replies (last )
Comment! It's anonymous! Reply to this post anonymously by submitting the form near the bottom of the page!

11 replies (most recent on top)

The pension is in a separate account and in the US cannot be touched. Federally it is protected. As for the severance, they can screw you over, it is a voluntary think.

by | Post ID:

If you are full time you will get a severance, one week for every year with a max of 8 weeks, managers get more. But remember in order to get the severance you must work until they release you, if you leave early or voluntarily you will forfeit the severance.

by | Post ID:

There won't be a bankruptcy, calm the F down.

as for the OP ... "You'll get nothing and like it"

by | Post ID:

They did not pay severance to Sears Canada and they cut the retirement. I think Sears Canada was a trial run for SHC America. I don't think there is any legal requirement for a company to pay severance. This may be a state to state thing but it is more of a PR thing. So if they go BK PR is out the door.

by | Post ID:

actually if they file for bankruptcy they can screw over peoples pensions too as part of the bankruptcy agreement. Sears and Kmart both are going under soon, its wayyyyyy into deep now.

by | Post ID:

Pretty much if the whole company goes BK no severance pay. That's why I'm saying if they are demoting you to PT take the severance pay as of now. Sears doesn't have much life left I would take that severance.

by | Post ID:

How many times must this be repeated!

by | Post ID:

Not necessarily need to pay severance - there are a number of financial shenanigans a company can deploy to avoid paying - one of them is just paying fines for NOT paying severance - could very well be cheaper

by | Post ID:

/>

"how will the severance pay provisions in your employment contract be treated in the event you are terminated before or after your employer files for Chapter 11 bankruptcy protection?

The short answer is you will likely have to sit in line with every other general, unsecured creditor-meaning, if you collect anything, it will be a nominal amount. ..."

by | Post ID:

Wait a minute!! If they declare bankruptcy no severance for anyone???

by | Post ID:

As far as I know from having seen so many of my coworkers go over the past few years, it's anyone who is officially full-time, whether hourly or salary. The problem is that I'm getting the feeling that they're going to try to hang onto the rest of the FTs until they declare bankruptcy so they can shaft everyone out of severances.

by | Post ID:

Post a reply

:

Related pages


davita corpqualcomm insurancehusky oil careerssears in indiaapple crabtree mallstaples herald squaretarget burnsville pharmacyaero repliesjob openings in bank of america hyderabadt-mobile layoffsexpress scripts memphiscorning inc corning nywww senacases comxilinx longmontsaint joseph london kyusps cnbeauty alliance storestardust transportationspectra energy partners lprecsolarmgmmirageruby tuesday westminster mdus bank richfieldgiant eagle employee websitewilliamson incaig job cutsboeing jobs san antonioqualcomm after hoursmarkwest hydrocarbon incnovartis pharmaceuticals jobsdeluxe check corporationcisco layoff blogexxonmobil in houstonsanta rosa memorial hospitalamdocs pune officestarwood tickershore medical center easton mdwww.scientificgames.comapple store pittsburgh south hillsjohn deere davenport workscvs caremark incwalmart stores hiringcoca cola jobs tulsacenturylink embarqalcoa chandler azchubb employeescerner corporation salaryweatherford international lawsuitat&t contract buyoutweatherford address houstonwholefoods tulsa okkmart vs searsalere layoffsbaker hughes employee reviewsnordstrom riverside californiawilliams midstreamruby tuesday atlantic cityhh gregg fort waynelevel3 stockcalgary reservoir engineering jobsburlington coat factory springfield illinoismcafee dcmschool closings pghhorton holding incpenn west layoffsconvergys incb2b verizonwireless comhhgregg montgomeryhalliburton aberdeen jobs973-278-5400ford layoffsanta anita nordstromcabelas sporting goodge jobs wilmington nc