Joined: 11 Jul 2003
Posts: 157
| Posted: Mon Aug 11, 2003 11:09 am Post subject: like Kmart? | |
|
A number of years ago when Kmart was going through a cost cutting frenzy there existed a club. It was called the 20-40-60 club. If you were a manager with Kmart with 20+ years service, over 40 years old and made more than $60,000 a year you were part of that club. Being a club member meant that you were an expensive asset and very replaceable. Upper management got rid of many members of that club, although Kmart did get sued for doing so later on.
Sears is running out of places and people to squeeze. But there is still some dollars to save in replacing store management. Dejavue, all over again. 
|
|
Joined: 08 Jul 2003
Posts: 5007
| Posted: Tue Aug 12, 2003 7:35 pm Post subject: Ex Sears Execs | |
| Doesn't Kmart have or has had many ex-Sears executives working for them ?. | |
Joined: 11 Jul 2003
Posts: 157
| Posted: Wed Aug 13, 2003 2:06 am Post subject: | |
|
Yes, current Kmart CEO was a Sears VP. He has a number of ex-Sears managers working for him.
The 20-40-60 club is from the pre-bankrupcy era of Kmart. |
|