Sears Announces Layoffs In Illinois After The State Gave It Millions In SubsidiesQuicklink submitted by Amanda Lang Permalink
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|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...|
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