Layoffs, transfers begin at Kmart (Troy,MI)

[RedEarth]

Layoffs and transfers at Kmart's fortress-like headquarters in Troy began this week and are expected to continue for several months, the retailer said in a filing with the U.S. Securities and Exchange Commission on Friday.


While some employees are losing their jobs, many are relieved to know one way or the other. They have been waiting since the $12.3-billion merger of Sears Roebuck and Co. and Kmart Holding Corp. was announced last November to find out their job status.


But some key employees including buyers working in Kmart's merchandising department won't know their fate until May 9, according to current and former employees who requested anonymity.


"The terms of the benefit packages being offered are being communicated to a substantial number of its affected employees beginning on April 26," Sears Holdings said in the filing. "The registrant expects the process of identifying and notifying all affected Kmart personnel to continue for the next several months."


Many of Kmart's 1,899 headquarters employees should know soon whether they can transfer to Sears Holdings' headquarters in Hoffman Estates, Ill., stay on the reduced staff in Troy or look for a new job, a spokesman said.

http://www.freep.com/money/business/kmart30e_20050430.htm

[losdiablosgato]

1. First rule of corp. merges and bankrupcies

Start looking for a new job the very moment you hear that it is happening. If you are cut lose you have a leg up on finding a new position and if not you may find a better one anyway.

I once worked with a guy who told me this: You boss evaluates you twice a year. You should do the same to yourself and them. Evaluate whether or not you are marketable and read through your resume to make sure it is uptodate. Also take a hard look at where you are and could you do better.