Thread regarding Sears layoffs

@T7bHUIH-khr You are 100% correct. Bankruptcy is a whole different ballgame. In some states the employees actually have to stand in line with the creditors to get their last paycheck and the employees are not the priority. Severance is an option, not a requirement and can be stopped at any time by the employer with no recourse by the employee. Beware Sears employees.

There is no law that says severance must be paid. The company can pay or not. What she is demanding is that the government take money from companies. Robin Hood. I feel badly for the laid off employees but it is what it is. Severance is a bonus, if you get it. More companies are eliminating severance - especially if they are closing the doors.

Bankruptcy is different than a layoff. Layoff benefit may be a company policy. In a BK all bets are off. You get pay and vacation owed and no more. The rest of the money goes to creditors. Fortunately in SHL case the pension will get some monies due also.

This is the exact thing that will happen to Sears what your seeing happening to TRU's is going to happen to Sears.

The top guys will leave richer with might leader Eddie Lampert wealthier than ever at the expense of once an American icon dryed up till the end as we been seeing it happen slowly.

When the retailer eliminated positions in the past, severance was always paid, according to Forbes. She's continuing to work at the retailer until her store closes for good at the end of June. Workers have now been told that "vacations that people worked for and earned would not be paid," she said, and that severance wouldn't be paid.