Hudson’s Bay Awards $3 Million in Executive Bonuses Amid Worker Severance Denials
In a move that has ignited widespread criticism, Hudson’s Bay Company (HBC) is set to distribute up to $3 million in retention bonuses to 121 managers and executives while denying severance pay to over 9,300 employees facing layoffs.
The beleaguered retailer plans to close most of its 96 stores by the end of June, leading to mass terminations. Despite this, court documents reveal that HBC intends to allocate substantial bonuses to upper-level staff.
Labor unions and advocacy groups have condemned the decision. Unifor National President Lana Payne stated, “No manager or executive should see a bonus while severance and other legal obligations to workers remain unpaid.” Similarly, the Canadian Labour Congress labeled the move “a betrayal,” emphasizing that executives should not receive bonuses while workers lack a safety net.
The Nova Scotia Federation of Labour also criticized HBC’s actions, calling them “shameful” and urging legislative measures to protect workers’ rights in corporate insolvencies.
As HBC proceeds with its restructuring, the controversy underscores the need for policies that prioritize employees’ welfare during corporate financial crises.
Source : Swifteradio.com
