Just a heads up for those who are staying for the package - getting severance pay is not a sure thing. It's totally up to the company whether or not they wanna give you severance after they lay you off. So don't bank on that money and then end up screwed in a job market that's already bursting at the seams.
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gjm+1lNn6IVW
Its not an assumption. Over a short time belk has lost executives from DIRECTORS to vice presidents to regionals and nevermind the backbone of the company ...the HUGE AMOUNT OF employees.. most fulltime employees work 30 hours now when they were at steady 40 before.. how does that say that the company is doing good? It dont.. dont try to sway the truth here by saying there is no proof. Belk is dying there is no doubt. Been here over 12 years and it has dramatically turned for the worst. Corporate is full of liars. Period.
We will not be able to meet our debt interest obligations without a financial restructure.
Corporate employees already got screwed over on our bonus this year - not paying out the individual portion, blaming it on company performance (it's specifically not tied into that) and then giving an "appreciation bonus" and acting like they are so great for doing that.
Complete BS - a LOT of us our currently interviewing outside the company, job market isn't the best, though.
Oh that’s not necessarily true. Private equity retail is especially stingy when it comes to paying employees, they try to gaslight employees into thinking that they are doing poor financially when executives are making millions, the sad part is, that most of the employees believe it because they are so uninformed. If Belk is doing good, then explain why the S&P keeps downgrading their credit standing…..??!!!
Everyone has been saying the same thing for years. Companies have turn around all the time. Belk is no different. Companies are struggling all over to fill positions. Employees in all companies are fed up with their job and upper management. Nothing new!!! Until you have evidence that Belk will be laying people off and possibly giving severance packages or not, don’t assume.
When you start to see upper management and c-suite executives running for the door, that’s a sign something is seriously wrong, something that very few are privy to.