Court Says Yes To $25.3 Million In Bonuses For Executives Of Bankrupt Sears

While employees report not receiving severance payments, executives of Sears have been given the green light for millions in bonuses.

CBS Chicago reports:

“So far this year, Sears has filed for bankruptcy protection, reported $2 billion dollars in losses, and is closing more than 180 stores, in addition to laying off hundreds of workers.

But . . . a bankruptcy judge approved Sears’ plan to give millions in bonuses to the company’s top-ranking employees.

The Chicago Tribune reports that a U.S. bankruptcy judge approved Sears’ $25.3 million dollar bonus request.

$8 million would be split among 18 key executives, and another $16 million would be split among 322 other high-ranking employees to stay put while Sears restructures and tries to stay afloat.”

For the rest of the story, visit CBS Chicago here.

Subscribe to the Nations largest union directory and blog site!


By submitting this form, you are consenting to receive marketing emails from: Senders Communications Group, 21201 Victory Blvd. #235, Canoga Park, CA, 91303, http://www.sendersgroup.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Featured Posts:

Country’s Oldest Craft Brewery Goes Union

Workers at a 123 year old craft beer brewery have voted yes to a union. The San Francisco Chronicle reports: ...
Read More

Thinking about RBG, the ERA, the ACLU and PFL, (Etc.) on IWD

We’re sure you recognize many of the acronyms in the above headline, but not to worry…we’ll decode the alphabet soup ...
Read More
The Westin

Leave a Reply