You can take this information to the bank. This is from an internal source who has been spot on regarding all the layoffs this year.
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Would Kmart be part of this? Any word on any Kmart positions in their stores being eliminated in July?
They will be business as usual until the day the file. Just think about it. Why would they want to give a clue that they were filing bankruptcy? Why give anyone a chance to quit, sabatoge something, destroy something, steal something or just open a store and let anyone take whatever they want.
They will say nothing until it is finalized and all the legalities are taken care of. They will make sure that you will stay until the end or you will not get severeance, bonus, whatever it is that they can hold over your head to keep you until the end. They can not liquidate without people.
You will have planning meetings, you will order things, you will do contracts and buy things for the next season. You will do payroll, scheduling, reports, budgets, conference calls, print signs, buying, designing, hiring and firing and everything you would normally do. Until they tell you that they are filing.
From someone who worked at Circuit City when they filed.
Won't need a tax credit if the end game is bankruptcy
could be a nervous stock short
They hired people at one store the day before they announced at rally the store was closing. Recruiting and hiring means nothing about the safety of the department or store.
They are still recruiting because HE could operate on a much smaller scale....all contingent on how many stores there are. It appears as though at least at HE everyone works both formats....Sears and Kmart so if you don't right now chances are you will in the near future as there are fewer stores. So they could theoretically lay off hundreds and still hire in some new associates. I don't think it's a mystery that there will be more layoffs.....none of us want them but they will happen. Not sure to what extent though.
I call it BS on OP's statement.
A reliable source has reported Sears will survive, although their stores will have a new name. Reportedly, the name change is: "Eddie's bait and Neurosurgery."
Other reports, also thought to be reliable, indicate Chicken Wings will be sold out of Store restrooms.
Clearly, this is the sought after "move toward profitability!"
Go Eddie, Go ! (And, did you recently correspond with Bernie Madoff)?
They're still recruiting because no one at Hoffman Estates is a decision-maker as far as a bankruptcy goes. HE, even at the highest levels, doesn't have inside info from the BOD.
TSA was remodeling their stores prior to BK
why are they recruiting ? any idea
ya still gotta give the impression of business as usual so the indians don't revolt
if company is ready for bankruptcy.. why are they recruiting ? any idea
This might have been included/part 2 of the the previous planning itself.
When 375 were laid off last time there were signs everywhere that it was coming (a lot of planning went into it), there is nothing this time indicating 500 on the 18th. I also know people and they know nothing about the 18th. This post is either a troll or someone who is nervous after hearing a rumor which they are now looking to validate one way or another on this forum.
Yeah this is transforming into big lots until BK. Just put the trash on the floor and blow it out!
Any hint at the departments at corporate? Most departments are bare bones - there is no fat left to cut.
is this a prelude to the 25th Q&A session that will help explain their lies about the transformation going well
Everyone is nervous. Prove it? What, you think the layoffs are over?
Prove it. More detail. What department are these nervous people in?
If this is legit I am calling it we are finally losing our Operations Managers after shes gone we are pretty much done she was probably the most efficient manager so we will be left with 2 (we got 3, but the store manager is useless).
What was your source for the market restructuring claim? Internal sources?
I heard Market restructure this Thursday or Friday.
unfortunately the predictions have been very good. People, be looking for a job, use your energy productively
"This is a lie. Probably the dude from Oxon hill making up another lie"
I doubt it, this board has been spot on about the layoffs lately.
This is a lie. Probably the dude from Oxon hill making up another lie
All I got was the number and date so far. Believe me, the people I spoke with are nervous. The source has been infallible. I'll post more as I get it.
500 'at Hoffman' would be a BIG cut into the total numbers there. Any clue on what depts are going to be most affected?
Maybe since they're not going to see the Illinois tax credits (since they couldn't keep minimum numbers in-house) they now feel more free to lay folks off?
Any word on ASM OR LEADS being laid off
Any information on a pending bankruptcy filing?