Thread regarding Sears layoffs

Your Severance Package....read carefully

I got 20 weeks, Sears said it is running concurrently with WARN but actually they had to give me 60 days by law anyways. So, actually the severance is roughly 12 weeks (20 weeks minus 60 days). I could hire an attorney to argue this point but not sure if it's worth the hassle. There is also some comment in the legal document that says I can't take early retirement if I do not sign (then would have to wait until 65) so that means I could miss out on the 100% lump sum option (it's a gamble if the pension plan will remain legally funded 80% as it is right now by then). Pension will remain funded until Feb 2019 by law.

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Post ID: @OP+TXWO7zv

5 replies (most recent on top)

Part timers get screwed

Low hours no severance no thank you

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Post ID: @srr+TXWO7zv

Not everyone gets 20 weeks. Some only get 8 weeks like myself and others will not get any.

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Post ID: @xua+TXWO7zv

They don't have do give you severance at all They could say you are done 60 days from today, no severance and comply with the law. Many companies say you are done now and pay 60 days severance to comply. Sears went above and beyond what is mandated.

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Post ID: @zqw+TXWO7zv

exactly I took mine and ran far far away LOL

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Post ID: @lho+TXWO7zv

Take your severence, grab your pension NOW and run!

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Post ID: @fgv+TXWO7zv

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