Sears files 'mass layoff' announcement

[wicket]

http://www.boston.com/business/articles/2005/04/01/sears_files_mass_layoff_announcement/

Sears Holding Corp. plans a "mass layoff" of 250 workers at its headquarters in this Chicago suburb, according to a report filed with the state's Department of Commerce and Economic Opportunity.

The state defines a mass layoff as 250 or more full-time employees or at least 25 employees if they make up at least one-third of the employer's work force. According to a 2004 state law, employers with at least 75 full-time workers must give 60 days notice to workers and the state of mass layoffs or a plant closing.

Sears Holding, which was created last week through a $12.3 billion acquisition of Sears, Roebuck and Co. by Troy, Mich.-based Kmart Holding Corp., filed the report this week. The notice was posted on the department's Web site Thursday.

Sears spokesman Chris Brathwaite declined to comment on the filing and said it has not been determined how many people will lose their jobs. But the commerce department's Web site says 250 workers would be affected at the company's headquarters.

[onehandle]

1. Sears used to be 1% of our GNP.

Now it's owned by Kmart who almost went out of business not too long ago.

Strange Times.

[DulceDecorum]

2. Beat me to it.

And I think that they will both go the way of Ames and Caldor before very long.

[mhr]

3. Fallout From The K-Mart Merger - The New Blue Light Special

Attention Sears staffers - Your work days are over!

[napi21]

4. This is no surprise. When 2 co's merge, you have dup. positions.

Notice it said "at the Co Hdq. I don't like it when ANYONE looses their job,, but you must admit, no co. needs duplicate corporate personnel.

[wicket]

8. yep, that's right

That's probably what's going on here. I hope Sears/Kmart will be ok, someone needs to be able to take on Walmart!

[solinvictus]

5. K-Mart has fallen hard..

The few remaining K-Marts here (Birmingham, AL) are slowly but surely looking like either Family Dollar or Dollar General. Over the Christmas holidays, their displays were nothing but cheap quality toys and household gadgets. K-Mart's insistence of keeping a circa 1975 business model has really killed them.

[Toots]

6. And Walmart digs it's dagger deeper and deeper into America's heart

Republicans love Big Box stores. If one company can do the job of a thousand little companies that is terrific. They only need to hit up one store for their "Protection Money" They could give a shit about the families from those thousand other stores. They call it efficiency. I call it Un-American. True it is very Capitalistic and shows no socialistic justice at all, but America is much more than just a "Capitalist Society" This is Capitalism run amuck. Not that I am sticking up for K-Mart and/or Sears but where does it all end? "I load sixteen tons and what do I get? Another day older and deeper in debt, St Peter don't you call me 'cause I can't goooo, I owe my soul to the Company Store....."

[barb162]

7. Years ago Sears had great benefits, lifetime employment, etc.

and now look what is happening.

[bobthedrummer]

10. Yeah, so did Montgomery Ward, I was with them for their final 3 years.

I sold major appliances and power equipment on commission for them.
It got to the point of taking credit card applications as the prime goal-not closing a sale!:wtf:
I also was with Wicke's Furniture when they failed and went out of business in the early 80's.
Today it's all about the Private Military Company/PMC, that's the future US economic growth area-mercenaries!:argh:

[barb162]

14. Wards was another great middle class merchandiser

"Private Military Company/PMC" I think you're right. That plus most people losing good-paying jobs with benefits to 3 part-time low-pay jobs with no benefits.

[Ernesto]

11. Yes it's truly a race to the bottom

I grew up with a neighbor family that included 5 boys & a stay @ home mom. The dad worked on the floor in the local Sears store. They had a mortgage & 3 of the boys graduated from Long Beach State.

[barb162]

12. I know many people who worked at Sears all their lives and walked

out with great $$$$$ stock, benefits, pensions, etc. Now look. They were the great American middle class store. MIDDLE CLASS. NOw all I can say is what middle class? Which explains the rise of WalMArt and the dollar stores. It is a race to the bottom.

[NNN0LHI]

9. Sears Files "mass Layoff" Announcement With Illinois Commerce Department

HOFFMAN ESTATES, Ill. (AP) - Sears Holding Corp. plans a "mass layoff" of 250 workers at its headquarters in this Chicago suburb, according to a report filed with the state's Department of Commerce and Economic Opportunity.
The state defines a mass layoff as 250 or more full-time employees or at least 25 employees if they make up at least one-third of the employer's work force. According to a 2004 state law, employers with at least 75 full-time workers must give 60 days notice to workers and the state of mass layoffs or a plant closing.

Sears Holding, which was created last week through a $12.3 billion acquisition of Sears, Roebuck and Co. by Troy, Mich.-based Kmart Holding Corp., filed the report this week. The notice was posted on the department's Web site Thursday.

Sears spokesman Chris Brathwaite declined to comment on the filing and said it has not been determined how many people will lose their jobs. But the commerce department's Web site says 250 workers would be affected at the company's headquarters.

http://ap.tbo.com/ap/breaking/MGBLGZHL07E.html

[DainBramaged]

13. Watch the tens of thousands laid off in the stores

as they consolidate their 'operations'.

This misadministration has turned it's back on mergers and take overs and is narrowing the choices we have as consumers to buy goods and services. And they say it's for the beterment of the workforce.


Fuck them, let them learn to live on $500 a week.