Sears provides lessons for HR

Better communication, transparency would help: Experts
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 09/18/2017
Sears
Sears announced in June it was seeking creditor protection and would be closing 59 stores in Canada and laying off about 2,900 workers at retail and corporate locations. Credit: Canadapanda (Shutterstock)

Still not managing to ring up much-needed sales, Sears announced in June it was seeking creditor protection and would be closing 59 stores in Canada and laying off about 2,900 workers at retail and corporate locations.

The news was not entirely surprising considering the retailer’s economic challenges of late, but the chain still faced a backlash when it became apparent departing employees would not be receiving severance payments.

Sears also announced it would no longer be making special payments to the defined benefit pension plan, post-retirement health and dental benefits, and post-retirement life insurance premiums.