[Snowflakian]

Quote:

Originally Posted by Black Arbor

I really don't understand how a company can just say "sorry, no severance pay for you!" It seems like that's something the government would FORCE them to allocate assets to, right?

Unless there's no assets to allocate. That old "can't bleed a stone" and that's the issue, TRU has been driven to stone broke by debt. Even the higher ups aren't going to get anything at all out of this. The company itself will no longer exist to provide anything as of the termination date. Likely up to two weeks after the termination date as they will have to pay out final paychecks and stuff. (So the stores themselves may close within two weeks prior to that date as they ramp down assets etc. to pay out final compensations owed for time worked.)

Not that typical retail employees get severances anyway though. Unless you were higher up the management chain, you didn't really have much more than a paycheck from them. Typical retail severance is the unemployment line.

Quote:

Originally Posted by Dr Kain

Anyway, when to the sales start? I want to get a Switch when it's on sale.

Probably not until next month. But consoles will likely be the last things marked down if at all. Consoles are typically sold at cost, and that's the main issue here in revenue lost/losing money. So I wouldn't expect those to get marked down until the last weeks.

So while overstock and other lines will likely get marked down to remove them. Consoles might be a different issue entirely until they don't have a choice in needing to unload the inventory. Those are one of those things they might find a way to re-allocate to other avenues to avoid that massive of a loss on them because of their debts. Otherwise I expect the employees will get first crack at them on the discounted price because that's one of the few things the employee discounts never worked on. Games yes, consoles no.

Quote:

Originally Posted by kylactus

Wow, that’s the longest fuck you I've ever read. I love the “you are expected to continue working” line. If I were a store manager, Or any in store employee expecting a severance package, which they won’t recieve, I’ve gotta say, STEAL SOME SHIT NOW, ANYTHIG AND EVERYTHIG U CAN CARRY! They scuttled the ship do what ever you want now, morality is optional. I’d drag verything in the parking lot, throw up a cardboard sign that says “free toys” and sit back and enjoy the riot!

And you'd never get hired by any retail outlet or other job ever again by doing so. Final moments loyalty breeds sympathy from other outlets in looking for new jobs. It shows dedication to your job, and what they would want in their company. Showing that kind of disloyalty would cause other places to laugh at you for even trying to apply with them. It'd make for a great internet meme or story, but that doesn't pay bills at all. Plus you'd likely get arrested too.

That letter is typical for these kinds of situations. This isn't a normal company closing. This is a straight up forced into bankruptcy closing. Not by choice but because that is when the money will run out.

Still beats the Amanda Waller and KGB severance package style though.