TERRIBLE: Sears Canada Executives Getting Massive Bonuses As Company Dies

As Sears Canada closes stores and prepares for retail death, head office execs are getting a combined $2.8 million in “retention bonuses.”

By contrast, the over 15,000 store employees losing their jobs won’t get any severance at all. In many cases, their pensions have also been slashed.

So, the very same executives who made poor decisions and led the company to collapse are being rewarded for their failures, while loyal employees are left with almost nothing.

As noted in a recent report, ‘”Can I use the F-word?” said Mina Iannino who lost her Sears merchandiser job in Toronto in March and then had her severance cut off in June. “I’m really upset. I’m disgusted with this company,” she said about the ongoing bonus payments.”

In addition to the $2.8 million, Sears Canada has already given out $3.7 million since to company executives since June.

Failure rewarded, loyalty punished

It’s sickening, as failed execs are being rewarded while loyal store employees are treated horribly, and given no recognition of the many years of their lives so many gave to the company.

It’s a terrible end note for a company that was once a part of the experiences of so many Canadians.

Spencer Fernando

4 comments Add yours
  1. The aristocracy gets the gold mine,the peasants get the shaft,as the old saying goes.

    It’s tragic that Canada is losing retail employees at an alarming rate,after we already lost most of our manufacturing jobs in the 80’s and 90’s. Combine this and many other closures with the disallowed pipelines and resource industry jobs and Canada should be headed for another Depression.

    Perhaps our loonie becoming a Canadian peso will help save us from the sophistry of governments both Federal and Provincial.

  2. Two names: “Wal-Mart” and “Amazon”. Any questions?

    RIP Woodward’s, Eaton’s, The Bay (now American), plus many others and now Sears. Welcome to the globalist “new world order” – we’ve only just begun.

  3. Again….The wealthy elite exec’s get the cash. Most of the population will soon be on EI or Welfare and our options for buying things will be Walmart, only.

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