I was just wondering if anybody else is afraid that by the time it's their turn to be laid off (and considering that Sears is going down for sure, everybody's turn will come) there will be no money for severance? We'll be left without a job and without any safety net whatsoever.
Frankly, since I started thinking about this, I started hoping I'd be laid off as soon as possible.
OP to put it straight if the company goes bankrupt their will be no such severance pay. Company might go under unless your lucky that your store closes and the company is still running overall you would get your severance pay.
Worrying about 8 weeks of severance that's conditional , or a small pension that's underfunded would pretty much be the inspiration for myself to move on and not wait until the ax falls these days
In fact....
I quit Sears with no severance, I had already pulled my profit sharing , And expected the paltry pension to be broke by the time I was old enough to draw any of it.
The job that replaced Sears ended up with a pension paying 4 times Sears' , and a retirement severance package of well into 6 figures.
Don't waste any more of your time, get your resume together and leave for a healthier existence .
Already got severance March 2016. I am worried about my other half of my pension. I received half of my pension in a lump sum and I am getting the other half in monthly payments. I had 38 years with Sears before I was cut. I was a one of you that refused to leave until I was cut. Life on the other side is sooo much better. I have a stress free job now. 7 to 3:30 Monday - Friday, all the overtime on Saturdays if I want, Christmas Party, year end bonus (something I never received at Sears), paid national holidays off, paid personal days off, great health insurance, 401k, profit sharing, great bunch of employees all at a privately owned company. This company also gives raises. I started out making less then I made working 38 years for Sears, but in two years I will be making more than I ever did at Sears. Start lookin around, there are companies out there that will hire you and treat you better.
My Sears store laid off some full time long term employees during this round with no severance. Just unemployment and the invitation to apply for part time work if some is available. They were not leads or management so that may be the difference for my store. The ASMs got severance and I think the laid off lead did but I don't talk to her if I can't help it. The manager is cruel so he may had been able to give them severance but chose not to.
Nothing is promised.
if the Co is bankrupt, severance could be eliminated. Look at your state laws
@-dzl The other poster is right. The poster is not "crazy". We had 2 long time employees laid off at our Sears store because their positions were eliminated and they did not get severance only unemployment.
@jgl - Hey, there's a lot of "crazy" people that have received or are receiving severance! So maybe all these people aren't so crazy after all. This crazy person got theirs; now go get yours!
I never ever count on a severance. If I get one great and I'll take it. There is no legal requirement Sears has to give a severance. They can stop it and deny it anytime they want to for no reason whatsoever and there is nothing you or I can do about it. If anyone is sticking around just waiting for a severance you're crazy.
why are you waiting to find a new job. Look now its your own dam fault if you dont
WHO IS THIS? IS THIS EDDIE?
Yes, that is a real risk for the last ones out. You should start looking for another job while you still have this one, if you can't afford downtime without a severance.