Laid-off Sears workers left with nothing - and they say wealthy bosses are to blame

[turbinetree]

Thousands of workers have been fired and outrage has been directed at the stewardship of billionaire CEO Eddie Lampert

Ondrea Patrick had worked at the Kmart in Rockford, Illinois for nine years. In September, Patrick’s store announced it would close as its owner, Sears Holdings, struggled with falling sales and mounting debts.

A month later, Sears, once the world’s largest retailer and a part of America’s cultural fabric for more than 100 years, filed for bankruptcy – putting thousands of workers’ jobs at risk.

Patrick said: “I am a mother who has four biological children and one stepson, and my income is all we have. When you take away our only income, you leave us with nothing – and we don’t deserve nothing. Mentally and physically it drags on you. It’s like saying you’re not good enough. And we’re all good enough.”

Sheila Brewer worked at the same Kmart in Rockford for 17 years as a full-time employee. Four weeks into receiving severance pay, a bankruptcy court stopped the rest of the payments. In the meantime, Sears executives have petitioned to receive up to $25m in bonuses.

https://www.theguardian.com/business/2018/dec/01/sears-workers-kmart-retail-eddie-lampert

And now if you go into Lowe's you see tool boxes being sold with the Craftsman Name on them...............so that the rat fucker CEO can make another buck off the name...................

[Wellstone ruled]

1. It is a ugly Reality

check when this happens. We can only than Prince Ronnie and his gang of anti workers for this. BTW,been down this path three times. After the first one,we knew what to look for and planned accordingly. Still have three payrolls issued as bum Checks sucks. Plus the loss of Insurance Benefits.

[sandensea]

2. The vulture culture

Take a well-run company with low debt levels, pay off the board, load it with debt - that's their profit.

And then, after having sold off the more valuable parts, walk away, leaving the firm to stumble until the next recession, when it usually dies.

Paul Singer would be pround of Eddie Lamprey.

[smirkymonkey]

3. This is obscene!

There should be a law against leaving workers with nothing while the top executive walk away with millions. After all, they are the ones who drove the business into the ground.