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Private equity scourge continues...
Profits before people, until the bitter end!
HBC managers to get $3M in bonuses but the 9500+ HBC workers get NO severance...
https://www.cbc.ca/news/business/hudons-bay-severance-bonuses-1.7493244 #profitsbeforepeople #cdnpoli #cdnecon #elxn45
CBCHudson's Bay managers will get up to $3 million in bonuses, but workers get no severance | CBC NewsThe beleaguered Hudson's Bay Co., which plans to close most of its 96 stores by the end of June, will pay up to $3 million total in retention bonuses to 121 managers and executives — but will not pay severance to its more than 9,300 workers, most of whom will soon lose their jobs.
And to put it in context, HBC was sold to an American in 2006. Six months after Stephen Harper took office.
It was the beginning of a huge sell off of Canadian assets to the United States and other foreign interests which have led to our diminished independence and self reliance.
This has also eroded worker protections in Canada.
@somecanuckchick as I predicted...