Thread regarding Sears layoffs

What if I am in Vermont ?

If you are in California you will get your vacation as per California state labor law.

Vacation becomes a liability of the old company, subject to the bankruptcy judge. I would not count on it, because the old company will liquidate with few, if any assets.

Will we lose vacation time that we have built up over the years ?

Amazon is always hiring.

@vhj. Enjoyed your reply. In our store we are losing people right and left because they have cut the hours so bad. We have some part timers who are getting no hours at all. We barely have enough employees to keep the store open. If your example were to happen in our store we would have to close due to lack of staff. Since some of us are in a position to do so, myself and a number of others in our store will not take pay cuts or reassignments. We will leave. You can count on it.

You need to reapply for your job, first you have been terminated by the old company, sign here!, Now you can reapply, we might hire you and here are the starting wages.....Hard to say what will happen. Probably will not be good. I can here the whip cracking already...stress levels going up....

@ftc and @rsm and @bpn Good points by all three of you. I agree there will be changes with the new company and despite what some people say it is a "new company." He is going to have to move quickly to sustain the stores. If too many people leave or are laid off from the stores he won't have enough people to continue operating the stores. They will have to go through the complete hiring process and then do the minimum training and that takes time. Even if they try to hire on the spot Sears has such a bad reputation it will be difficult to find applicants. I'm hoping for the best but will continue to look for other opportunities. Good luck to all

My take is the new company will offer less than what SHC was offering this will result in more employees leaving thus Eddie will not have to resort to layoffs this will drastically reduce employees and then Eddie will slowly close down every thing and still not be held responsible for anything. I maybe wrong though if Eddie still wants to transform the new company.

This may or may not occur, mostly because very few people were directly employed by SHC. Most were employed by a separate business unit that is still intact and has merely changed owners. While I do not doubt that there will be pay and compensation changes, they will not impact store level associates outside of management.

You are correct OP ! I was with a company that both , took over other companies and went into bankruptcy itself . When a company was taken over by us , all employees had to reapply for a job position . When we were taken over by Patriarch , a company like ESL , same thing , we were all fired and had to reapply with the companies our units were sold , or divided to. Had to go thru background checks , d--g tests , the whole nine yards just like a new job interview . They gave you an offer for hiring you , with new responsibilities , and less incentives , or told you sorry , we do not need you any more . By law , when the red tape of this mess is finalized , the employees will have to take a week off to go thru the rehire new ownership process , I say a week , could be more or could be less time , but it is going from a public company to a private company thru the court system , so it will have to happen .

Been like that for ages. People who are still around know what to do. They are not desperated but more of opportunist.

Sears already did this last year. Told managers their position was gone and they could apply for a lead position. I’m sure it will happen again

Legally it is being taken over, regardless of what may or may not change because of that.

. . . Except Sears has not been taken over. It's just sputtering along until the time comes for liquidation, probably later this year.