Thursday, January 22, 2015
Meanwhile, WINNING north of the border.........
Earlier this month, Target announced it would close all of its 133 stores in Canada, laying off the 17,600 employees north of the border. Target's "employee trust" package for its Canadian workers, announced last week, amounts to around $56 million, providing each worker with 16 weeks of pay.
The golden handshake "walk-away" package handed to ex-CEO Gregg Steinhafel last May is in roughly the same ballpark at around $61 million, including severance of $15.9 million.