Eddie paid off the investor class action. Wouldn't the same issues apply to employees? How many people have lost jobs while Eddie sits in his ivory tower in Miami. Any other CEO would be long gone for this performance.
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And there we have the American way: If you dont like something, lets start a lawsuit.
Class action from the employees, especially those laid off won't fly. As others have mentioned, part of the paperwork you sign to accept severance explicitly states that you will not pursue class action against SHC. Of course, that document is signed under duress (financial instability is duress enough) so it may or may not be legally questionable.
However - a more likely candidate will be employees suing to get the full value of their pensions as opposed to pennies-on-the-dollar buyouts.
It's not about morals, its about business. As one business goes down and people lose their jobs, another business makes money and hires more people. You have to adapt and overcome or get run over. SHC is getting run over by Amazon, WalMart and others.
As one business makes money, people and peoples retirement funds, States, and governements invest in those businesses and make money. In turn, that money gives many people better retirements, money for kids college etc.
The opposite is also true, if these same retirement funds, states, gov. etc invest in a business which loses money and the values of the stock goes down then the lose money. It's business, nothing moral about it.
Anyone who would even think of this is no better than Eddie. Horrible morals.
Concerns of jobs are being lost through the act of one CEO, pales in comparison to the number of job opportunities that are and will be lost through automation and robotics. Our retail skill sets will soon be deprecated and will give way to the machines.
You are an employee, not an investor. You chose to work for SHC, they did not ask/beg you to work for them. They pay you a salary (it doesn't matter that is may be low) to work for a certain amount for certain hours. You have the right to leave, to find another job, to tell them to Kiss your Butt. But you have no legal action. It is a business, this is how business operates.
Investors invest money with an expectation of a return. If the company is not forthcoming or withholds information that would prevent you from making an informed decision or their is some sort of fraud or sort of mismanagement of the investment or the directors use the company for their own personal enrichment, then you have a lawsuit as an investor.
A lawsuit from investors are a completely different thing versus one from employees. You can't force anyone to let you work for them. You have no power in this situation. He is pretty much funding the company out of his and his hedge fund's pockets. He makes the rules. That's basic life rule 101. I can't believe it when I see people who are surprised by this.
Wtf is wrong with you? Move on
Also, if you were laid off and accepted the severance, you had to sign an agreement not to take any future action against the company.
as long as he pays you for time worked , you are not hurt on the job etc. you have no claim.