Good luck
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1ifk- Very true what you have stated but I believe the key is the percentage of workers employed by a company. Is this just in the state of Illinois or the company as a whole? Also, Since technically SHC is divided into over 30 different divisions (companies), hence the Holdings in SHC, does this not make a loophole to get around the WARN Act requirement? 20 in this division, 30 in another, 10 in another and so on. Just asking.
As someone who was part of the layoffs in Feb, I can say that the Sears paperwork for severance is terrible. Conflicting language to start with, but very little help from the HR dept who directed all questions to the 88-sears number (and they're terrible, too).
The basics of the severance are;
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You have to fill in and fax the paperwork back in order to be eligible for severance.
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Once you start getting severance, if and when you get a new job you are required to tell them within 5 days of starting.
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Once you have that new job, you forfeit the rest of the severance pay.
Also - the way it worked in Illinois, was that the 'severance' pay was in fact continuing pay for your position, but you were on a 'leave of absence' which means you couldn't get unemployment until that severance was finished. This goes back to conflicting language, because they called it severance, but ALSO 'leave of absence' in the paperwork. I also could not touch my 401k until the severance period was complete. (I cashed out, needed the money).
It's in your best interests to get the paperwork in and get the severance pay. They won't take out 401k, but they DID continue my medical coverage (not cobra, but regular coverage) for the duration of that severance. It was basically paychecks on time until it was done.
Good luck - I look forward to hearing what departments were most effected by todays events.
Sad to say there's still major cuts coming if they only achieved $1B of the 1.25B planned. Takes cutting a LOT of people to add up to much. Say the average salary of those cut was $75K, and that's probably high, cutting 400 people is "only" $30M in salary. They used to say the cost of an employee was double their salary by the time you figure in benefits, unemployment, etc so maybe $60M? To get $250M you need to cut well over 1600 people making $75K.
All those cost saving measures and they will most likely still lose billions of dollars. They have no clue how make the company profitable. Its too late. If they are cutting this much at corporate level, who knows what ever cost cutting measures they will do next in store level since they are cut to the bone as it is now.
Just imagine the cost savings if they'd just fire everyone and close all the stores! Genius!
Sorry for those who will lose their jobs. Been there and it s---s. Don't do anything drastic for at least a couple of weeks because you have just experienced the same stress as the death of someone close to you, and your judgement is not sound. Process.
Official announcement from SHC - 400 positions eliminated
Announces incremental actions to streamline its operations and deliver cost savings
On track to achieve $1.25 billion in annualized cost savings in 2017
http://searsholdings.com/press-releases/pr/2047
Once again you heard it here first, this site gets it right every time
http://www.chicagotribune.com/business/ct-sears-corporate-job-cuts-0224-biz-20170223-story.html
Sears in yahoo finance says 400 layoffs At headquarter
They even issued a press release this time. http://www.prnewswire.com/news-releases/sears-holdings-provides-strategic-restructuring-update-300473018.html
I haven't seen any warn notices for the layoffs in late feb? Anyone know where to find it?
http://www.chicagotribune.com/business/ct-sears-corporate-job-cuts-0224-biz-20170223-story.html
https://www.illinoisworknet.com/LayoffRecovery/Pages/ArchivedWARNReports.aspx
@1ryo bigger than previous. Watch inboxes in morning. CEO email announcing it. Managers doing it morning. large room in HQ to process all laid off. Heavy security presence. worked here 5+ years not seen this level of prep b4. God bless those laid off and the hr people, it can't be fun for them either
We keep hearing tomorrow is the big one but is it really? I'm thinking it will be slightly bigger than the 50-60 people that get let go every few weeks . I think corporate has probably lost over 500 people since January -few people every week are let go with little fainfaire so I don't think tomorrow will be a big one. All departments give up one or two people will be less than 100 total.
WARN always lags
" Wouldn't we see it on the Illinois Warn notices if it really was 500 associates? "
June WARN notices for layoffs IN June & JUNE layoff notifications will appear in the July listings - employee notifications take place first before seeing the published public notification
I go to work tomorrow at corporate expecting to be fired. I've lost count the number of times I have had this feeling going to work. I can't leave because of family issues. How am I supposed to be productive, hard working, focused on and on with this axe always waiting to fall?
Praying for all the employees at headquarter! If this is really true it's going to be heartbreaking. Too bad the kid appears let Eddie go years ago. He is destroying so many lives!
Isthetransfirnatuon he talks about to just take sears and Kmart out of the retail industry all together? Good luck everyone
Since The Transformation has never been defined to us, Anything can be said to be helping. Making chocolate flavored cat litter is transformation. If you can sell it for a few bucks so Eddie has another gallon of fuel for his Italian yacht, then it's a great moral victory for him and another demoralizing day for us.
You get WARN pay for the 60 days under the WARN Act. So they will make the notice tomorrow, if the rumor is true. They aren't required to give 60 days before they walk you out the door. Just 60 days before they would stop paying you. Add onto that any severance beyond the 60 days, if you are so lucky.
errr I' confused - how does laying off a lot of staff equate to the much lauded transformation.....
That's not true. Look at the warn notices. They always list out when a Kmart or Sears store is closing in the state of Illinois.
"Wouldn't we see it on the Illinois Warn notices if it really was 500 associates? Normally you have to give notice to the state in advance if it is going to be a number like 500.
This is Sears we are talking about here. Professionalism and protocol is non-existent with this company
Who cares about a warn notice if the company won't be here next month?
Wouldn't we see it on the Illinois Warn notices if it really was 500 associates? Normally you have to give notice to the state in advance if it is going to be a number like 500.
If Sears commenced a Lay-Off action of every single employee at Hoffman Estates today, or even tomorrow, and then allowed all Sears Store to remain vacant but requiring the (few) lingering customers to leave a few bucks (or less) in a cookie jar near the exit door -- then Sears productivity would go UP. Yes, really. I mean, after all, Sears hasn't seen a (true) profit since 2005.
No one, excepting the Chinese slave laborers who have stuffed Sears Stores with their cheap crap merchandise year after year, will give a damn.
Let the next Lay-Off actions begin ! Release the Kracken !
Tomorrow will be horrendous. In my years working here i have never seen the volume they intend to layoff
We are seeing security sitting at the entrances from today only :(.
I heard 500 tomorrow at HQ. You won't be able to miss it
I know at our store they are eliminating the operations position as well as two leads. Our store will be down to store manager assistant manager/hardlines and two leads
It's reliable. If ur aware you'll notice the signs if you look around you. you'll find out tomorrow morning either way. I have heard this is a big one. I have no reason to lie. I post this here because it saddens me and it's an outlet for me. its hard doing this all the time.
It's the employee's who are bringing down this company. Every month the same news will halt thousands of workforce for a week or more. Just counting the cards and dreaming of choices. The way they pick the cream is all based on favorites rather than performance.. .
Starts tomorrow at 8am.
How reliable is this news!!! ???
Sad news for employees yet our CEO just doesn't seem to care about the employees
Over 500.
I heard that this is a big one, no departments, everywhere. It might be rumors but tomorrow over 300 (?!) I hope not, I can't deal with this anymore
Any idea what departments this time?