Thread regarding Kohl's layoffs

Just in case

I haven't heard any rumors about more layoffs or closing, but I was curious how Kohl's handles severance? Who is eligible and how much is the payout? Are there any other benefits included or is it just the severance itself? I'm just trying to stay informed in case I need to know for the future.

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Post ID: @OP+1eb0rEE9

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KSS severance in 2020 for the corporate positions they axed was 1 week for every year up to 15 years then 1.5 weeks for every year after that with a 36-week payout max. 18 months COBRA. Severance is paid lump sum meaning it’s taxed at 40%. If a hedge fund buys KSS, expect the expense reduction and layoffs to be brutal. Gass and the other C-Suite folks will get their golden parachutes. Best to get out now as it’s better to find a job while you have one.

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Post ID: @1Lurz+1eb0rEE9

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