The recent news of Sears closing in Canada both surprises and concerns me. The number of jobs that will be lost is substantial. Approximately 12,000 people will be left jobless in the next few months, just from the Sears closures alone. The franchise has been open in Canada for 65 years, which means some people have spent their lives building careers in the company.
If it was not bad enough that employees are losing their jobs, and quite possibly their careers, some former employees may also suffer because of the closure. Retirees and beneficiaries are currently facing the fact that there is a huge deficit in the Sears pension fund. This means that Sears may not be able to pay out pensions in full and retirees will be left with no form of income.
While I am aware that there is nothing that can be done to stop the closure, current employees that are being let go should be offered some type of severance pay until they can find new, secure employment. Beneficiaries should be guaranteed that they would receive their full pensions and other benefits.
The fact that brick and mortar stores are becoming more and more obsolete due to online shopping should not warrant leaving loyal employees and former employees with nothing to show for their commitment.