Sears Canada to create fund for laid off employees who received no severance
TORONTO — Lawyers representing workers at Sears Canada and the company have reached a deal to create a hardship fund for former employees who were denied severance payments when they lost their jobs at the retailer.
The $500,000 for the fund will come from money set aside to pay bonuses under a key employee retention plan at the retailer, which is restructuring under court protection from creditors.
Susan Ursel, who represents the current and former employees, said Tuesday the creation of the fund has the support of the company and the court-appointed monitor in the restructuring.
“The fund is designed to assist people in situations of precarious hardship, which is to say they are without sufficient resources and are experiencing genuine hardship,” she said.