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Bankrupt Sears can give $25.3 million in bonuses to top employees, court says
marketwatch.com
A U.S. bankruptcy court judge on Friday approved Sears Holding Corp's[S: SHLDQ] request to pay up to $25.3 million in bonuses to top executives and other high-ranking employees, the Chicago Tribune reported, even as the retailer reported losing nearly $1.9 billion in the first three quarters this year. Sears, which filed for bankruptcy protection in October, said it needs to able to offer the compensation to encourage key employees to stick with the restructuring company, the paper said, citing court documents...
Since filing for bankruptcy, the company already raised base salaries for certain executives, including three tapped to form the Office of the Chief Executive after former CEO Eddie Lampert stepped down.
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