Extra vacation: who wouldn't want it? If you work for Sears Canada, your employer is encouraging you to take it. One little catch though, you won't be paid for it. Also you might have to forgo some of those doggone retirement benefits you've been counting on for the last few decades or so. Welcome to the new Sears. And Hudson's Bay is making moves to cut costs too. That's what a Globe and Mail article says today.
"Sears Canada Inc., which is controlled by U.S. hedge fund financier Edward Lampert, is encouraging its employees to take unpaid leaves. It's also snipping some staff discounts and eliminating postretirement benefits. This fall the retailer demanded that some suppliers fork over retroactive payments of as much as 10 per cent on past orders, tied to the stronger loonie."
All I can say is thank goodness the economy is zipping along at a rip roaring pace, right? Can you imagine if things were to slow down?
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