Closing Bonus , What’s the facts?

[hurtfeelings66]

Liquidators will promise the world to try to get people to
not quit but what’s the real story about the closing bonus? From any stores that closed how much did you
receive, was it 2 weeks pay? 1 week pay?

Was it taxed into a smaller amount that you expected?

Did the liquidator make any other promises to keep people
from not quitting?

Comments

[weaselusrex]

In California, you can file for unemployment online. There is a one week waiting period starting from when you file, and sometimes a telephone interview. I was laid off in 2009 (not from Borders) and I ran through all 99 weeks of unemployment payments which came in 5 "tiers". Only 1 of those tiers required me to list where I was searching for work

Closing Bonuses

[ext_732182]

They will throw u awy like old garbage.They want u to work as much as possible for now and then they don't know u.Put together a great resume and get yourself out there NOW!!!!Get out of there if you can.Did Borders ever care about u?Did you ever get that promised bonus?NO Even id u are full time they won't give u shit.

Re: Closing Bonuses

[ext_732182]

Way to go, harping on the negative. Good luck finding and keeping gainful employment with that attitude, bitch. And I wouldn't leave Borders quite yet - depending on the state you live in, you could be denied unemployment for job abandonment. And they look into your history, so don't even try to bullshit them, as undoubtedly YOU would do.

[anonymous]

we closed mid-may. no bonuses for anyone.

[anonymous]

When our store closed the retention and sales bonuses were for GM/ SM and IS only. They were pretty crap. Your liquidator will go through the exact amounts with you within the first 2-3 weeks of your closure.

The retention bonus was pro-rated by day and paid out according to the number of days your store stays open. They offered me $700 if the store remained open 9 weeks. Ours closed a few weeks earlier and I received much less.

The sales bonus is based on last year's sales. They offered $500 if we beat our goals by a certain percentage.

GMs will get more, IS will get less.

Here's where the crapiness begins. I did the numbers and our store more than surpassed our sales goals but folks from our store were told we did not qualify for the sales bonus. I had no way to fight this so I took what they gave me.

Also the bonuses are taxed with the luxury tax which is more than 40%.

I was an SM and after taxes I made about $415. It's something but I was expecting more.

[anonymous]

Don't just quit. Unemployment will check with Borders and many states will not give you unemployment if you quit...even if your store is closing...you are expected to work til you are laid off.

Don't risk it.