So what happens now, do the workers that get to stay terminate their contracts with the old company and sign new ones with the new one, or is the continuation of work implied? If it’s, in fact, the case that new contracts will me signed is it a possibility that some workers get cut in the process of transition to the new company?
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Contracts with the old (SHC) are now worthless. You will reapply for your job, probably at a reduced rate of pay or commission, with a new contract with the new company. This will take months to implement but it will happen.
Sears is just a mall based closeout flea market now. Even Big Lots has better store selection than we do.
Don't be surprised if the evaluating of stores, labor and staffing has been in progress for awhile now.
This is just retail, not corporate America. He has to hang on to the current employees for a while to transition the stores. Once the dust settles he will start evaluating labor and staffing needs as well as which stores to keep open or close.
Usually when a new company is acquired or started, the existing employees will reapply with the new company. If you’re hired m, then you’ll be presented with an offer. If you choose to accept, then you begin under new terms. If you are not hired or do not accept new terms, then it was nice knowing you