this post was submitted on 26 Mar 2025
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Hudson's Bay managers will get up to $3 million in bonuses, but workers get no severance (www.cbc.ca)
submitted 5 days ago by ValueSubtracted@startrek.website to c/canada@lemmy.ca
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[–] Adudethatis@lemmy.ca 53 points 5 days ago (1 children)

Guys who tank the company $3m People who spent their lives making the company what it was $0. Corrupt AF system

[–] wise_pancake@lemmy.ca 34 points 5 days ago (1 children)

The government should intervene in situations like this.

Complete BS.

[–] Albbi@lemmy.ca 16 points 5 days ago

They do it because they can get away with it.

[–] melsaskca@lemmy.ca 20 points 5 days ago (1 children)

That's capitalism after all. It is to be expected. We need a new system.

[–] abff08f4813c@j4vcdedmiokf56h3ho4t62mlku.srv.us 11 points 5 days ago (1 children)

I get that these are retention bonuses and such.

I.e. the folks keeping their jobs get more money, while the folks losing their jobs get nothing.

Wth? How is it even legal to let someone go without paying severance? When I was let go, I had to be paid my severance (which was considerable) because that's the law in Ontario.

[–] ryper@lemmy.ca 8 points 5 days ago (2 children)

From the article:

In bankruptcy and receivership cases, cash-strapped companies can opt not to pay severance, forcing laid-off workers to make claims as unsecured creditors — which will likely result in pennies on the dollar.

[–] abff08f4813c@j4vcdedmiokf56h3ho4t62mlku.srv.us 6 points 5 days ago (1 children)

From the article:

Thanks for the hat tip.

which will likely result in pennies on the dollar.

Understand that this is the law right now. But laws can be changed. This absolutely should not be legal. These hardworking folks should not have to settle for "pennies on the dollar" when mgmt can still afford to pay out $3 mil of retention bonuses.

[–] pinball_wizard@lemmy.zip 4 points 5 days ago* (last edited 5 days ago) (1 children)

Yes. The laws can be fixed.

Workers should be at the front of the line legally dividing up company assets.

The job may be gone, but folks could at least drive home with a work truck or a set of office chairs.

[–] HellsBelle@sh.itjust.works 2 points 5 days ago

When investors and leadership are considered kings, and workers are peons, this is what happens.

[–] sbv@sh.itjust.works 1 points 5 days ago

Remember Nortel? When the feds were talking about moving employees ahead of investors in the pecking order of who gets the last few bucks? Glad that happened.

[–] Lemmist@lemm.ee 13 points 5 days ago (1 children)

You can't do it the other way: it would be communism!

[–] adespoton@lemmy.ca 6 points 5 days ago (2 children)

That just sounds… weird in Canada.

It’s obviously socialist, and that’s a GOOD thing.

[–] Cruxifux@feddit.nl 7 points 5 days ago* (last edited 5 days ago)

What? We aren’t socialist. We’re closer than the states but that’s like being the skinniest guy on the first episode of “the biggest loser.”

[–] Lemmist@lemm.ee -1 points 5 days ago

Trump: We lost them. WAR!!!