Send the message to Sears: no bonuses for executives while retail staff get laid off

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Sears is giving huge bonuses to executives, but forcing a lot of folks into unemployment.

Sears Holdings, the company that owns Kmart and Sears, just filed for bankruptcy. They’ll be closing locations across the U.S., laying off retail workers and cutting their promised benefits - all before the end of 2018. But some Sears employees will be walking away from this business failure laughing all the way to the bank - executives.

Sears is gearing up to give $25.3 million in bonuses to executives who helped steer this iconic American company into bankruptcy. Tell Sears: no bonuses for executives while retail staff get laid off without benefits.

Sears Holdings will be closing over 100 stores, and cutting 5,457 positions. Laid off retail employees will get no benefits or severance pay. But Sears is planning on giving big bonuses to some. In a court filing, Sears plans to split $8.4 million in bonuses for just 19 top-level executives, and split another $16.9 million among 315 other senior employees. Many of these executives played a part in the downturn of Sears as a company - putting forward efforts to liquidate properties and promote stock buybacks that rewarded investors and harmed retail workers.

Instead of awarding these executives, Sears could give benefits to the 5,457 employees who will lose their jobs. Tell Sears to stop these bonuses, executives shouldn’t be given big payouts while retail workers get nothing.