I would recommend severance pay be paid as in past years and each employee be based on the time of service and the maximum severance package (which everyone of my friends received) was for one year.
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To the dip who posted, "To the poster who said every Cabela's.......", I work here, el dippo, and will be walking many out unfortunately along with your ignorant self. Do you think this is simply a dream? Your going to wake up and, hey, everything is cool, hardly - it I'd strictly business and Cabelas sold out, period, end of story.
When the layoff happened in 2008 - I was told to consult attorney before signing layoff forms. The attorney told us " as Nebraska is a right to work state, it didn't really matter". I received a one year severance package and found another job .When I checked into unemployment I was told that "I left of my own accord"( big lie). My husband got one week severance for every year he worked for a company. So plan accordingly one week for each year you worked there-or a year.
to the poster who said every Cabela employee should now be concerned about finding another job it will unwind now. I assume you are a ex employee who can not get into the door at a Cabela's?
In all honesty, every employee should be concerned with finding a new job - it will unfold quickly now
Who do you think that pays for the arbitrator? With that being said, if you choose to contest the severance package you are awarded, who do you think has the advantage when your case comes up for to a decision? If you signed the arbitration agreement you have no input when it comes to select an arbitrator. You accept the one the company provides and the outcome. I DID in fact work for Cabela's for nearly 10 years. I DID NOT sign the arbitration agreement as did several other people I knew. We were given the option to not sign the agreement if we wished. I believe it is now a condition of employment that you sign it prior to hire. At the time of the agreement, I was nearly 50 years old. Although is was covered in the arbitration agreement that the company was working within federal guidelines regarding EEOC and FLSA acts are you naïve enough to believe that companies don't use people for what they are worth and then will find a replacement at a lower cost when you have hit your ROI target? My performance reviews were "above target" during my course of employment. Did you know that the list of employees that had their positions eliminated, nearly half of them were 50 or over! I DID consult an employment attorney before accepting the severance package and was advised that it could be years before you were able to have an actual case go to a court. Unless you can prove a discriminatory situation existed 100% beyond a doubt, you are better to accept the severance or potentially receive nothing and accrue large legal bills along the way. Not worth the stress, heartache and time to pursue. The legality of arbitration agreements is a pretty hot topic in the world of HR right now. Working in retail for a LONG time, you get to know people that have worked for other companies over the years. Cabela's WAS a GREAT company at one time. That is one of the reasons I choose to work for them, but times have changed. Cabela's uses industry averages when it determines benefits and policies for employees. From a legal and financial standpoint, they have to show consistency and no bias. The formula I was given in determining severance was a standard retail severance agreement which gives you an initial 4 weeks pay and for each year you worked you received an additional week of pay. The package is the same across the industry, unless you negotiated a better one when you started. If you were unable to find employment within 90 days, Cabela's would not deny the unemployment claim. We had several hourly people in our location that had worked 20 years for the company and got 5 months severance pay. You have to remember that Cabela's is a publically traded company and will do what is in the best interest of the shareholders, not the people who work for them. 10 years ago, Cabela's still had small company values and took care of their employees by doing what was right. Today, retail is retail. If you believe that you will be taken care of should any layoffs occur; I really, really hope you are right. Outfitters in corporate may come out better than those in the field. You will probably have to interview for you job again with BP. If you are selected to work for them, you will be in good shape. I have seen this situation happen MANY times over the years in other organizations. Results are always the same. Executives will be taken care of because they own the vast majority of the stock. Severance packages for the other top ranking employees will be generous. For the rest of the Outfitters, not so much. By the way, I forget to mention that if you have outstanding stock options that you have not exercised yet, you forfeit those shares too. Additionally, any potential bonus you may have accrued is also forfeited. I hope that things work out well for those who still work for Cabela's. I really do. The time I worked for the company I did enjoy. Take the time to research your options and be prepared when/if the time comes. You won't get any advance notice when it does happen. Don't be surprised if you are also walked out the door the day it happens (safety concerns) and have your personal effects packaged up and sent to you. Retail is a cold, heartless business.
Sooner or later folks will realize that Walmart and Cabelas are cut from the same corporate cloth. D--k and Jim lost control of things when they went public. They made their money, a great American success story. But this thinking that they would always look out for everyone was just not going to happen. Shame that the people who believed and trusted in them enough to invest their lives are going to get the short end of things. Glad I do not have as many years invested as some.
We are all screwed, I wonder if there could be a class action possible because of the lies that were told on the status of the company.
In reality severance pay is offered based on length of service to the company. I believe in terms of length of service to the company the percentage of people with length to the company was so much higher in 2008 which was laid off then the average length of service to the 20 thousand employees today. Also the stock is schedule to be sold for 61 dollars a share today and the stock value in 2008 was probably less then 8 dollars a share. A one year severance package has been the common standard at Cabela's over the years for employees with a long length of service talking to people.
Cabela's is no different then Walmart or any other retailer. I disagree. Everyday for a long time when i walked into work I would see D--k Cabela on the TV screen being interviewed and stating his success in business (no it wasn't worrying about what Walmart was doing ) was he felt you treat your employees right and your customer right and everything else would far into place . In 2008 when Cabela's stock was selling for less then 8 dollars a share a one year severance package was given my Cabela's to employee with a long work history today, Today the poster state this would be way out of line when stock is schedule to be sold for 61 dollars a share. The reason stated Because Walmart doesn't do this.
I will refrain from posting the silly comments . I would like you to post the link to your averages. Also I MIGHT mention this is not Walmart this is Cabela's. Maybe you should look up some facts on Cabela's instead of Walmart . Also my link for average severance show shows an average severance pay for 6 months for regular employees and a year to executive members. if you go to the Cabela's merger agreement you will see where the executive team is getting a 3 year severance package. https://www.thebalance.com/what-to-expect-in-a-severance-package-2063385. I know in 2008 and 2014 Cabela's paid severance packages of a year or more for employees with a long work history . IF THE POSTER IS RIGHT IN REGARD TO ABRIATION CABELAS SHOULD BE SUED . I SIGNED ABRIATION AGREEMENT UNDER THE TERMS THAT IF I DIDN'T AGREE WITH THE POLICY OF CABELAS I HAD THE RIGHT TO TAKE THE DISAGREEMENT TO ABRIATION . IN FACT I JUST TALKED TO MY PERSONEL DIRECTOR THE OTHER DAY ABOUT THIS AND SHE STATED I COULD TAKE A DISAGREEMENT TO ABRIATION . TO THE POSTER YOU NEED TO GET TO CABELAS AND GET HIRED ON AS A PERSONEL DIRECTOR OR CORPORATE LAWYER AND GET CABELAS STRAIGTEN OUT. You wish it could be better. lol maybe research things what has been the policy at Cabela's and not Walmart or some unnamed company.
The industry average for having your position eliminated or separation from a company is 3 months pay and the eligibility for unemployment after 90 days. It would be impossible for Cabela's had to give 1 year severance to the 20,000 employees who potentially could lose their jobs. Leadership will get the most and it will trickle down from there. Even if you have worked their 10 years, my guess would be that you would get the standard severance package of 3 months and a be eligible for unemployment. If you signed the arbitration agreement, you will have to accept whatever will be offered. Bad news is that I believe anyone who did not sign the agreement is already had their position eliminated. Wish it could be better, but that is the cold reality of retail. Cabela's is no different than Walmart or any other retailer. All the Kool Aide you drank will never change that fact.
The industry average for having your position eliminated or separation from a company is 3 months pay and the eligibility for unemployment after 90 days. It would be impossible for Cabela's had to give 1 year severance to the 20,000 employees who potentially could lose their jobs. Leadership will get the most and it will trickle down from there. Even if you have worked their 10 years, my guess would be that you would get the standard severance package of 3 months and a be eligible for unemployment. If you signed the arbitration agreement, you will have to accept whatever will be offered. Bad news is that I believe anyone who did not sign the agreement is already had their position eliminated. Wish it could be better, but that is the cold reality of retail. Cabela's is no different than Walmart or any other retailer. All the Kool Aide you drank will never change that fact.
Serverance pay is not required by any state or federal law. I was layed off in 2005 from a large corporation, because my position was eliminated I was paid 3 months salary and benefits after which I was eligible for unemployment benefits.