We, laid off Borders employees, demand that the company's executives not be paid bonuses after 6,000 people lost their jobs!
Weeks after Borders, Inc filed for bankruptcy protection and announced that 225 stores would close and more than 6,000 employees would lose their jobs, the company's President and CEO is asking for $8.3 million in executive bonuses (including nearly $1.7 million for himself)!
Borders is in more than $1 billion debt, and employee raises have been frozen for years, yet last year the CEO got an 87 percent salary increase.
This kind of executive compensation flies in the face of all financial logic and morality. 6,000 people have lost their jobs and these guys think they deserve millions in bonuses for making it happen!
Join our campaign to demand that the request for executive bonuses be immediately withdrawn, or significantly amended so as to tie much lower bonuses to successfully paying off the company's debts, helping it survive and thus protecting the thousands of workers that remain.
- Borders Executive Vice President, CMO
- Borders Executive Vice President, Ops
- Borders Public Relations
- Borders Senior Vice President, HR
- Borders CEO
- Borders Senior Vice President, Merch & Planning
- Borders Vice President, CAO
- Borders Executive Vice President, CFO
I write to express my deep concern over the request for Borders, Inc executives to be paid $8.3 million in bonuses.
Such a request comes just weeks after the corporation announced it was filing for bankruptcy, leading to the closure of 225 stores and the loss of 6,000 jobs without severance.
Borders, Inc is currently in debt by $1.29 billion yet part of the above request included $1.7 million for CEO Mike Edwards.
We find such a request morally reprehensible, and strongly support the campaign to ensure such bonuses are not paid.
We demand that you immediately and publicly withdraw the request for $8.3 million in executive bonuses, or significantly amend the plan so as to tie much lower bonuses to successfully paying off the company's debts, helping it survive and thus protecting the thousands of workers that remain.
I look forward to your reply at the responses email below.
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