What is the general rule for Sears? I know it used to be you received 1 week per year worked, but recently i have seen people who have 20 years in only receive 9 weeks of pay.
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I was just laid off a few months ago, I was salaried for 3 years, only got 4 weeks (min for salary)
So let's put this to rest. In the old days you would get one week of pay for every year of service up to 26 weeks. They changed all that years ago. Now you get one week for every year you have been with SHC up to a max. of 8 weeks. That means if you have been here for 10 years and you are considered full time you only get a max of 8 weeks pay.
If you are a salaried employee you get one week of pay for every year with the company with a max at 26 weeks. This is one reason that they changed alot of salaried managers to hourly a few years ago. Now they don't have to pay the max of 26 weeks just the max of 8 weeks.
Any corporate managers or higher ups are different because they usually sign a contract with all that in the contract. Others at corporate are just like regular employees.
As far as unemployement goes that is a state to state thing so you need to check with your state labor board or whoever.
But the severence and retirement can change at any time. There is no law that says they have to pay any severance, so keep alert.
I don't know that there is much rule for severance packages other than 'whatever they decide to let you have'. I was at SHC corporate for just under a year and got 10 weeks when I was laid off. Others I've heard of have gotten 8 weeks, some few got MORE when they were let go, mostly the long-timers (more than 10-20 years at corporate).
@1pou we are not getting the full story on these "irregularities". Have these people left the company and returned after 90 days which 'erases' their time served. Did they get laid off in a previous lay off and then returned, if so any severance they previously received is subtracted from their new award because it's a life time max of 8 weeks. There are so many situations that we are not made aware of, but I assure you we rarely get the full story on this message board.
8 weeks Max for full-time over a certain amount of years. If salaried 20 weeks severance. This is for Sears not sure about Kmart
@Ifq But as you can see there are many irregularities. It seems that there is no solid general rule because some people are getting their weeks at the cap, and some aren't, even with working the years. Some people do want to know the latest, and how can you assume the person asking has been on this site for months??
How many times do we need to go over this! I think we have posted the same info for months now!
When my lead position was eliminated I was only offered 5 weeks, even though I had been there much longer than five years. I wasn't surprise though because another lead who's job had been eliminated a year or so earlier was only offered five weeks then. Salaried managers who lost their positions received weeks of severance corresponding to their years of service.
I had 18.5 years at Sears all hourly years and full-time. I received 8 weeks severance, and I was able to receive my pension at 100% I was in Plan 2 of the pensions. I received my 401(k). I am currently on Unemployment Benefits.
My store closed last year i was a ASM with the company for 30 years i recieved 20 weeks plus unemployment if needed
Store staff would get 1 weeks pay per year up to 26 weeks plus unemployment (26 weeks or more-depending on what state and the economy) and full benefits. Rehire PT in 6 months minimum possible as retiree. Cash in profit sharing/401K-stock account
Upper management walked away with a years pay plus all bennies and unemployment. Plus the cash and 401k-stock account.
Some even got cash settlements out of stock class action suits against the company after they left.
And now 8-10 weeks?
For the stores, you get one week of severance per years of service. Maximum is 8 weeks if you're hourly; 10 if you're salary. Not sure about corporate.
Don't necessarily count on a severance. Look what happened in Sears Canada.