Employees Petition Sears to Ensure Their Future
With Sear’s future still in question, employees, fearing for their futures, are pushing for a severance fund. But while these workers may be hoping for a generous gesture similar to that of former Toys “R” Us owners Bain Capital and KKR & Co., as the Toys “R” Us employees have found, just the promise of funds isn’t enough to pay the bills.
“While we understand Sears and Kmart must make changes to survive, we do not believe it is fair that financial firms stand to profit from Sears’ bankruptcy while employees like us are asked to sacrifice,” the letter stated, according to the Journal. In response to the letter, a Sears Holdings spokesperson said: “Protecting the interests of Sears’ associates and all stakeholders has and will continue to be a priority for the management, board and restructuring committee of Sears.”