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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhile Sears executives get bonuses, laid off workers struggle during Christmas time.
By Corky Siemaszko
While the executives who presided over the bankruptcy of Sears and Kmart will ring out 2018 with news of $25.3 million in bonuses, laid-off worker Ondrea Patrick will be using her unemployment check to pay for new brakes on her 2000 Dodge Durango.
Patrick, who lost her job when the Kmart she worked at in Rockford, Illinois, closed in October, had been hoping to use the money to buy her kids ages 1, 2, 3, 7 and 11 something new for Christmas.
And it infuriates her that theyll be getting hand-me-downs and relying on charity this Christmas while the people in charge are handsomely rewarded.
Those top people and (Sears CEO Eddie) Lampert are having a wonderful Christmas, Patrick, 36, told NBC News. They got $25 million in bonuses. Me? Im late on my bills. The electric company is threatening to shut me off. And I dont have anything left to spend on the kids this Christmas.
Patrick, who worked part-time for Kmart for nine years, is one of the thousands of workers whose lives were upended in October when Sears Holdings, more than $5 billion in debt and unable to compete with Walmart and Amazon, declared bankruptcy.
I was making $10.50 an hour when they closed my store, Patrick said. I got my pharm tech license and was working at the service desk. All my life we struggled and I finally felt like I was making it.
On Friday, a U.S. bankruptcy court judge allowed Sears Holdings to hand out the bonuses after the company successfully argued that it would lose its top people if theres nothing in their stockings this Christmas.
SEE MORE AT LINK BELOW
https://www.nbcnews.com/news/us-news/while-sears-executives-get-25-million-bonuses-laid-workers-struggle-n949446
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While Sears executives get bonuses, laid off workers struggle during Christmas time. (Original Post)
muntrv
Dec 2018
OP
Did I get this right? Sears is worried about losing the clowns that lost $5B?
marble falls
Dec 2018
#3
Loki Liesmith
(4,602 posts)1. Sears executives have run the company into the ground
They dont deserve any bonuses and I cannot see how losing them could hurt the company more.
ProfessorGAC
(65,191 posts)2. Exactly What Would Be The Basis Of A Bonus
What metrics could they possibly have met to justify bonuses, for anybody, exec or otherwise?
And if the "top people" drove the company into BKO, what difference could it possibly make if they walk? There are a million business people with experience who might take the 100% increase in pay (or more) to take their jobs.
The judge has obviously never worked in big business.
marble falls
(57,240 posts)3. Did I get this right? Sears is worried about losing the clowns that lost $5B?
Farmer-Rick
(10,212 posts)4. A perfect example of capitalism.
The already rich get more riches for doing a bad job while the worker gets paid practically nothing for doing a good job.