Yesterday across the company townhall prep rallies were held with all asscoicates at head office, what did you think?
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@3dou If (when) the company does go bankrupt, last paychecks will probably hit, but severance, and (haha) pensions will be in jeopardy. The only folks who will get their golden parachutes will be the upper execs and of course Eddie Lampert who will be first creditor in line to collect hundreds of millions of dollars based on his lending to SHC from his hedge funds.
Exactly! If the company goes bankrupt final paychecks may not be processed let alone vacation, sick, holiday, etc. employees become creditors and must get in line for what is owed to them (although most consider wages as a top priority, no guarantee)
The interim CIO held a quick 30 minute meeting, displayed some new org charts and had an open mic for those who had questions. Maybe 3 or 4 folks had questions about the shop your way program and some concerns about support since so many were let go overall. The response was the usual. I didn't expect to hear much but attended anyway. As others said it was a waste of time... this was just grandstanding to make it appear that management really cares and is willing to listen to associates. I mean, who's going to get up there and really speak one's mind... that would be career suicide. And, I say 'career' with tongue in cheek because I am not sure there is really any future at Sears. These layoffs are going to continue every couple of months. That's my opinion.... actually those that were laid off at corporate got severance packages. If we wait until the bitter end and Chapter 7 or 11 is announced there might not be any severances..... never been thru it before but I have read that some companies don't pay them when this happens. Sometimes the doors close and when you try to go to work you can't get in the office. So, working here is risky since none of us really know what's going to happen. It will be like the last episode of the Soprano's..., bam... all of a sudden it's over... fade to black.... that's what I think will happen.... be prepared for anything. If you have anything of value at work, I would make sure you bring it home don't leave anything in the office..... good luck to all
No Plan for future.They will not last for long.Only 3 or 4 months maximum.
Waste of time. Could have got some real work done.
"still trying to figure out who should lead Shop Your Way."
SHC gonna run lean so.... Leen the mean gonna wear dat hat too
take 3-4 month minimum for a new hire to get acclimated into new gig & set direction to run it their way .... ( ooops sorry meant run it the Fast eddie way ) - so why bother just give it to her
Our quick meeting was good. I am sure Leena is heading online going forward. All online merchants work for the individuals BU's as they have for a while so the OBU is really just site operations/some marketing/some finance. I am sure they are still trying to figure out who should lead Shop Your Way.
No, things are just as confused as they were
Did they announce who is leading online and Shop Your Way now?
They always hold them. Just a way for the managers to identify themselves to the survivors.
Same 'stuff' different day.