FORMER SEARS CEO TRIES TO AVOID PAYING $43M IN SEVERANCE FROM BANKRUPTCY, WORKER REACTS
NATIONWIDE — Today, USA Today reported that billionaire and former Sears CEO, chairman and shareholder Eddie Lampert requested that a federal bankruptcy judge release him from his obligation to compensate former Sears workers, who he had agreed to pay up to $43 million. Sears employee and United for Respect leader Brenda Urrutia from El Centro, CA issued the following statement:
“Sears always promised us one week of severance pay for every year we were with the company. But after 21 years of service, I was laid off in January of 2019 and received just four weeks of severance pay. It’s not fair that Eddie Lampert and his friends are walking away with billions and now trying to cheat dedicated employees like me from what we were promised.”
Sears and Kmart employees sent a letter to Lampert in March pushing the hedge fund manager and former Sears and Kmart CEO to allow employees have a seat at the table, in the form of corporate board representation, to help ensure the long-term success of the company.
“You said that you take responsibility for the mistakes made along the way, and more recently you stated that you have ‘cared deeply about the company, its associates and the people they serve,’” the employees write in their letter. “We write to ask that you show us in your actions. For more than a decade, we have helplessly watched on the sidelines as our stores fell apart.”
If you’re covering Sears and would like to speak to Kathy or another impacted employee, please contact Taylor Campbell at (202) 854-9571 or [email protected].