I heard at Hoffman about a month ago there would be two 'waves'... I was caught up in wave 1 on 6/26... then I heard more on our around the middle of July so this is not fake news. Anyway, if you get a lay off- immediately file for unemployment insurance. When you sign the waiver it says they can terminate severance at any time, so please do this to protect yourself if Sears is unable to make the payments. It sure sounds dire for the company now. In Illinois you can still collect UI even if you get severance. I believe Sears will end up like Toys R Us and Carsons/Bon-ton stores. I am not sure how Sears is going to keep things running with a skeleton crew. Does anyone think we will even see Christmas at Sears in 2018? Doubtful.
6 replies (most recent on top)
Based purely on history (last year) the 2 wave theory seems to be pretty accurate.
Look for Wave 2 to strike 7-10.
@U04SZNo-fhg I agree every year we say its the year, but you can kind of do an estimate at this point. The thing I have seen in my store things are getting very ugly and the cuts are getting nasty. Sears is losing lots of collateral to pay back Mr. Lampert. Its matter of time where he will close his check book for good and call it quits. I really think this might be the last Christmas Sears has remaining of how I seen things change and the overall overloaded debt.
To be fair every year people think they won’t last another year. People have been saying the exact same think since like 2012. But yes, it is only a matter of time.
I still think remaining operational through Christmas 2018 looks pretty likely, but I'm not so sure about Christmas 2019.
If you cannot find a job in 6 months today you have problems
In my state I was not able too draw my severance and unemployment at the same time. I received my severance for 8 weeks and then unemployment started. I was only able to receive unemployment for 6 months. After 6 months you had better have a job because I was also told by the unemployment office that there are no unemployment extensions anymore.