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When Target declared bankruptcy and pulled out of Canada, they setup a trust (or something) to give all employees 4 months of wages. They all got 4 months of wa
by pyre 10y ago
When Target declared bankruptcy and pulled out of Canada, they setup a trust (or something) to give all employees 4 months of wages. They all got 4 months of wages, but some stores closed sooner than others, so some people ended up working for 4 months while others ended up basically getting paid to do nothing. You might look into what Target used to set this up.
- desdiv 10y agoGood for them. Sounds like they had to setup a trust: >“Therefore, in what we believe is an unprecedented move, Target Corp. is voluntarily seeking to establish a trust that we will fund with C$70 million. Those funds are designed to provide nearly all Target Canada employees with a minimum of 16 weeks of wages and benefits coverage during the wind-down period.” http://www.huffingtonpost.ca/2015/01/27/target-canada-severance_n_6556442.html http://www.huffingtonpost.ca/2015/01/27/target-canada-severa...
- pyre 10y agoFrom what I understand, at the point they declared bankruptcy they (Target Canada) didn't have enough money to meet payroll obligations, and the trust was seeded from Target's US operation. It Target Canada had just been standalone chain (i.e. no Target USA), then this probably wouldn't have been possible.
- triplesec 10y agoGreat brand management and value culture by Target there. They are fortunate to have deep pockets to be able to do this, of course