Sears Is Paying Millions In Executive Bonuses But No Severance For Laid Off Employees

An online campaign that calls for a boycott of Sears Canada is gaining traction on social media. Sears Canada intends to cut approximately 2,900 jobs without paying out any severance to their employees. However, they will be paying out $9.2-million dollars in retention bonuses to executives. A Sears Canada spokesperson says the payments are common during the creditor protection process and are designed to keep key employees motivated with performance indicators and incentives to successfully close stores. Some people aren’t buying it. They are flooding the company’s Facebook page and Twitter with the hashtag #BoycottSearsCanada.

Photo Credit: Brent Lewin – Bloomberg via The Financial Post


Posted in News, Scott Fox