Thread regarding Sears layoffs

The stock has tanked 90% in the last year. Not a very good incentive.

Sears compensated people on top with plenty of shares/stocks. Eddie gets $1 salary but his stock option worth millions. His direct reports also get hundred of thousand of stocks.

@U2bHJvM-4lim It is pretty low indeed compared to the CFO of Target, but the company is in way better shape than Sears. As well that compared to the little guys getting 10 hours or less a week (I remember seeing co workers get only 3 hours a week which is a joke along with adding that you have to have your availability all open lol.. its a slap in the face). If the people under get cuts also the top people should get cuts as well.

That’s actually pretty low. The cfo of target makes over 3 million for example. He’s not gonna starve to death or anything but he’s still paid a lot less than his counterparts in other retail companies.

4 hours is better than the 0 you'd get with a cheaper CFO.

@1tex-- to quote you;

"The upper management knows they are milking a dead cow why else would they stay.. there is no turn around plan and they know it"

And the store level people are doing the same thing. they stay to get severance, retirement or just to milk it until BK. If anyone is staying to try to make a career then they haven't got a clue as to what has been going on. MOOOOOOO

@1gxj cut his salary even by 1/3 .. or not give big fat bonuses or take away their Corp credit card

The upper management knows they are milking a dead cow why else would they stay.. there is no turn around plan and they know it

With fewer stores to support the debt sears has.its astonishing the salaries these guys make..

I cd maybe understand if they were investing in the stores and doing everything they cd to get more people in the stores, but quarter after quarter it’s the same old story with a different date

Cut his salary in half and he’ll walk tomorrow for a half dozen better offers. New budget CFO will be lucky to keep the company afloat for a few weeks.

I think what OP is saying is this company is trying to do cuts left and right, but yet a person making that much is still to much. Course he won't work for free, but why not cut his salary to half? Half a million would still be an amazing salary. I don't think so. Making half a million an year is still an amazing salary overall if you ask me.

hourly associate gets minimum wage for the most part regardless of performance. CFO cut 400m in cost last year and is always a potential target go litigation. No comparison of jobs.

If there is that kind of money for the big wigs certainly there should be more than 4 hours a week for the people at store level and a raise

His compensation should be based on financial performance, just as the hourly associate is. PERIOD. That is one of the dumbest things I have ever heard.

His compensation should be based on financial performance, just as the hourly associate is. PERIOD.

He is a CFO!! What kind of salary do you want him to have? I for one can see paying him that amount just because he has kept this POS alive. I also give him credit for all of the financial gymnastics he has done to push debt down the line so that the whole company did not shut down. When he can no longer find cuts or ways to keep the creditors at bay then everyone will be out of a job.

Go ahead and try to shame me because I don't fall for the kind of product that OP is selling . I stopped caring about what other people thought a long time ago.

@yos - Not sure when your rant stopped making sense and turned into gibberish, but it probably began after the sentence, "Let me explain something."

Let me explain something, there is enough division and frustration without adding classist nonsense to this. It's childish and ridiculous. " Oh look he went and got the degrees, put in the years of work , built his career and now he is an executive, so let's be jealous because he makes way more than we do. " Who are you , Michael Moore ? Someone from Rise Up R(EEEEEEEEEEE) etail? ( if you are from Rise up Retail) Why not be honest about where YOUR funding comes from? www.revcom.us , and https://unitehere.org/ . Businesses live and they die, people move on , they get new jobs . Sears has been failing for well over 20 years , trying to start this income inequality garbage because people are either more qualified or have worked twice as hard or twice as smart and we are supposed to be jealous over it is just stupid. You want to fuel emotional arguments just like they did with the people at Toys R Us who were dumb enough to buy into it and create more idiotic street protesters. Attitudes like jealousy over income inequality are why I left the democratic party , and my bank balance at the moment is only 25 bucks. Sears is dying , let it go.

Makes much less than other CFO's . Do you expect executives to work for free?

Probably one that was appropriate for a near bankrupt company like Sears.

What kind of CFO do you think you’d find for $50,000 or $100,000?