Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
1 comment

Sears Announces Layoffs In Illinois After The State Gave It Millions In Subsidies

Quicklink submitted by Amanda Lang     Permalink
Related Topic(s): ; , Add Tags

View Ratings | Rate It

Headlined to H4 2/21/12
Become a Fan
  (9 fans)


At thinkprogress.org

Just a few months ago, Illinois gave retail giant Sears $275 million to keep its corporate headquarters in the state, after Sears threatened to move elsewhere (including, potentially, Ohio). To show its appreciation for receiving millions in taxpayer funds, as Greg Leroy pointed out at the Clawback blog, Sears announced last week that it will layoff 100 workers at those headquarters: Despite a huge subsidy package enacted by the state of Illinois in December, Sears Holdings Corp. has already announced layoffs at its headquarters in the Chicago suburb of Hoffman Estates. Last week, the retailer announced that 100 HQ staff will be laid off'That December deal, valued at up to $275 million, came after Sears threatened to relocate in headquarters to another state. Its predecessor company, Sears, Roebuck & Co., played the same 'job blackmail' game in 1989. The $168 million...

Read the rest of the story HERE:

At thinkprogress.org


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

The interstate commerce clause in the US Constitut... by Richard Pietrasz on Wednesday, Feb 22, 2012 at 10:44:21 AM