April 9, 2005

K-Mart / Sears merger spurs "mass layoff"

Sears Holdings Corp. said it plans a "mass layoff" of at least 500 workers at its headquarters in this Chicago suburb [Hoffman Estates], according to a revised report filed with the state's Department of Commerce and Economic Opportunity.

Last week, the department posted on its Web site that Sears Holdings planned a mass layoff of at least 250 employees. But this week, the department posted a revised filing that said the company would eliminate at least 500 workers.

Sears Holdings was created last month through a $12.3 billion acquisition of Sears, Roebuck and Co. by Troy, Mich.-based Kmart Holding Corp. The buyout, which created the third-biggest U.S. retailer based on sales, should save $500 million over the next three years, Sears has said.
How much more of this booming Bush economy can workers stand? Oh well, since the Bush Labor Department has catagorized flipping burgers as "manufacturing" jobs, I'm sure the thousands of out of work people can find a job in that sector. Maybe.

3 Comments:

At 4/09/2005 3:26 PM, Anonymous Anonymous said...

Is this the start of Sears ala Mexico City in exodus??

 
At 4/09/2005 3:30 PM, Anonymous Anonymous said...

Yeah and the manufacturing of "hamburgers" is something our schools need to consider with that No Child Left Behind funding you know.

They need to get a plan in place to crank out skilled manufacturers of all food products so that the corporations such as McDonalds get a "job ready" work force quickly with as little expense to the corporate world as possible.

Then the newly trained manufacturing employees with their great skills can hope and pray that they don't ever get sick and have need of any medical benefits such as hospital care etc. since the corporations can't afford to offer that to their employees since it would just cut too deeply into the bottom line and restrict those stockholder divideds. Wow - sorry for the run on sentance but this is just more frustration brought on by Mr. W and his rein.

 
At 4/10/2005 6:20 AM, Blogger The Inside Dope said...

Anon, we all feel your frustration. The best thing to do is to gear up and begin doing what you can to ensure that this reign of terror is ended in 2008.

 

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