I can't give you an exact date, but it will certainly begin within the next two weeks. If you are one of the few employees left who have been with Sears long enough to be making halfway decent money, be prepared to be replaced by someone who will help them liquidate for minimum wage. I shouldn't have to repeat that you won't get severance. Also, Expect them to try to block any unemployment claims too.
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In BK they can petition the judge to not pay unemployment due to dire financial straights. If they judge grants the motion then unemployment would be stopped. They then will have anyone left sign paperwork that you have been told that you will not be getting unemployment when you are laid off.
I dont think any judge would grant such a motion but who knows.
The naiveness on these boards is scary. All they have to do is falsify the paperwork and say they fired you for whatever reason they want. I actually know someone they did this to, and he was a manager no less.
I followed you until you said they would block unemployment claims. They would have no leg to stand on. What would their reasoning be? "Our associates didn't work hard enough so the Chaper 7 bankruptcy is their fault, therefore making their terminations their fault?" Give me a break. Sears associates have enough to fear without your downright fear-mongering.
They can't block UE in California unless it is for cause.
"How exactly do they block unemployment? Dümb f---"
Are you really this f*cking stupid?
"But my manager just told us that things would get better soon"....
I surely hope the poster of that remark was being sarcastic.
How exactly do they block unemployment? Dümb f---
Any action items for the lowly associates from the meetings?
If you were in several of those can u atleast tell us the dates?
I don’t know about chapter 7, but the hush hush meetings at hoffman were to plan companywide layoffs. I was in several of those
I thought this was old news to anyone with common sense.
RECAP: Massive layoffs, Ch7, no severance, maybe no UE. Did I miss anything?
At the rate we’re burning through $$$ without any more coming in, if we’re not in full Chapter 7 liquidation by Christmas, that alone would be a Christmas miracle.
Yep. Chapter 7 folks. You were warned.
no.
Within 2 weeks, so we won't be seeing Christmas then?
All I know is there were hush-hush discussions in a certain office in HE today, and the jist is that nobody’s biting on Eddie’s proposal to go halvesies on the second loan. His conditions make it kind of hard to want to help him.
Committee won’t even think about selling anything to ESL considering the review of past transactions currently going on.
BK will convert from Chapter 11 to Chapter 7 within the next two weeks without any other lifelines.
But my manager just told us that things would get better soon...