Fairness for Sears Workers
13,148 actions
goal: 18,000
Earlier this month, Sears Canada announced it is laying off nearly 3,000 workers -- without severance. [1]
But it gets worse. Since then, Sears has also announced over $9 million in retention bonuses to executives and management, dubbed a “necessary evil” to keep the bankrupt company running.[2]
Sears has a responsibility to look after loyal employees, many of whom have worked for the company for years, instead of lining executives' pockets. Their reputation is now on the line, and if we create a big public outcry, we can embarrass the company into giving laid off workers a fairer deal.
And, public pressure works: Sears has already reinstated limited benefits and pension payments to retirees, after initially trying to cut those off as well.[3] The company is in crisis, and they can’t afford the reputational risk of hanging current and former employees out to dry... especially while trying to restructure and turn things around.
Sears may have filed for bankruptcy, and times may be tough - but with over $2.6 billion in revenue in 2016[4], providing severance pay to their workers would be a drop in the bucket. Running a business is all about choices and priorities -- and paying out bonuses to executives, while denying even limited severance to laid off workers, is a choice. It's time we let Sears know that we are watching.
Of course, there is nothing new about a corporation putting their profit (and their executives’ big bonuses) over their workers. That’s why it’s so important that we speak out, and say enough is enough. Together we can turn the tide on corporate greed, and start setting precedents that value fairness for workers.
Sources:
[1] http://www.cbc.ca/news/canada/toronto/sears-employees-complaints-1.4190110
[2] http://www.cbc.ca/news/business/sears-laid-off-restructuring-bonus-1.4204178
[3] http://business.financialpost.com/news/retail-marketing/sears-canada-extends-benefits-to-former-employees-while-seeking-approval-for-sales-process/wcm/e21f8768-8e7d-4e69-8c00-a78755770056
[4] https://sears.investorroom.com/reports
But it gets worse. Since then, Sears has also announced over $9 million in retention bonuses to executives and management, dubbed a “necessary evil” to keep the bankrupt company running.[2]
Sears has a responsibility to look after loyal employees, many of whom have worked for the company for years, instead of lining executives' pockets. Their reputation is now on the line, and if we create a big public outcry, we can embarrass the company into giving laid off workers a fairer deal.
And, public pressure works: Sears has already reinstated limited benefits and pension payments to retirees, after initially trying to cut those off as well.[3] The company is in crisis, and they can’t afford the reputational risk of hanging current and former employees out to dry... especially while trying to restructure and turn things around.
Sears may have filed for bankruptcy, and times may be tough - but with over $2.6 billion in revenue in 2016[4], providing severance pay to their workers would be a drop in the bucket. Running a business is all about choices and priorities -- and paying out bonuses to executives, while denying even limited severance to laid off workers, is a choice. It's time we let Sears know that we are watching.
Of course, there is nothing new about a corporation putting their profit (and their executives’ big bonuses) over their workers. That’s why it’s so important that we speak out, and say enough is enough. Together we can turn the tide on corporate greed, and start setting precedents that value fairness for workers.
Sources:
[1] http://www.cbc.ca/news/canada/toronto/sears-employees-complaints-1.4190110
[2] http://www.cbc.ca/news/business/sears-laid-off-restructuring-bonus-1.4204178
[3] http://business.financialpost.com/news/retail-marketing/sears-canada-extends-benefits-to-former-employees-while-seeking-approval-for-sales-process/wcm/e21f8768-8e7d-4e69-8c00-a78755770056
[4] https://sears.investorroom.com/reports
Workers deserve fair treatment. We call on Sears Canada to reduce the retention bonuses awarded to executives and management, and negotiate severance pay for laid off employees
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