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31 July 2011 @ 06:36 pm
Closing Bonus , What’s the facts?  


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?



 




 
 
( 56 comments — Leave a comment )
(Anonymous) on July 31st, 2011 10:47 pm (UTC)
lots of things were promised
Lots of things were threatened. In the end it all came to nothing. No threats were followed through, no promises kept.
hurtfeelings66 on July 31st, 2011 10:54 pm (UTC)
Lots of things were threatened??
Anonymous said "Lots of things were threatened", what was threatened?
(Anonymous) on July 31st, 2011 11:16 pm (UTC)
Re: Lots of things were threatened??
If you left before you were released, you wouldn't get unemployment. No references would be allowed. You'd be kept on, but wouldn't get any hours but still would not be released. If you left for other employment, your new employer would be told you were not eligible for retire (you'd been fired, and lied to your new employer about it). That's not all, but certainly enough to show the pattern.
As stated, threatened, but not followed through.
Re: Lots of things were threatened?? - (Anonymous) on July 31st, 2011 11:19 pm (UTC) (Expand)
Re: Lots of things were threatened?? - (Anonymous) on July 31st, 2011 11:40 pm (UTC) (Expand)
Re: Lots of things were threatened?? - (Anonymous) on July 31st, 2011 11:56 pm (UTC) (Expand)
Re: Lots of things were threatened?? - (Anonymous) on August 1st, 2011 12:44 am (UTC) (Expand)
Re: Lots of things were threatened?? - thetathx1138 on August 8th, 2011 01:49 pm (UTC) (Expand)
(Anonymous) on August 1st, 2011 12:55 am (UTC)
Fuck it....everyone know's Borders declared bankruptcy....can't imagine any state would deny you unemployment.
bookboss83 on August 1st, 2011 01:01 am (UTC)
employee release dates
The liquidators decide who gets cut when. You (as a GM) are not allowed to release anyone before their date and no one is allowed to work past their date. All "job abandoments" or "resignments" are to be reported to HR.

I have told all of my employees that I completely understand if they need to quit. Most of us have families that have to come first. I have a few that are just planning on hanging on til the bitter end so they can get unemployment. As much as I hate the idea of leaving my team, I have a responsibility as the sole wage earner in my household to provide for my family. Everyone at my store (liquidator excluded) knows I am actively searching for a job and should one come up, will be taking it. If I can't find anything, I'll just chill out on unemployment and let them pay me to finish my Bachelors Degree :)
(Anonymous) on August 1st, 2011 02:14 am (UTC)
Re: employee release dates
If you are on unemployment you have to file with the unemployment office at least 3 job contacts/week to remain elgible foir benefits. The contacts can be simply 3 jobs applied for that week. You can't just sit on your azz and collect. You have to document your job contacts and may be called in for an audit. I luckily never was audited but a friend was.

The day you are officially let go, go to the unemployment office that day. Filing takes a couple weeks to process before you get benefits. Don't make the mistake I made of thinking you have to wait a month to file. File the very first day you are unemployed.
Re: employee release dates - rush_808 on August 1st, 2011 03:21 am (UTC) (Expand)
Re: employee release dates - fraudoktorclams on August 1st, 2011 04:33 am (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 1st, 2011 07:50 pm (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 2nd, 2011 01:36 pm (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 3rd, 2011 05:12 pm (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 2nd, 2011 07:45 pm (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 1st, 2011 12:35 pm (UTC) (Expand)
Re: employee release dates - (Anonymous) on August 1st, 2011 01:45 pm (UTC) (Expand)
(Anonymous) on August 1st, 2011 01:17 am (UTC)
Don't sweat it...you are losing your job. How it happens is immaterial. Apply for unemployment and start looking for another job.
(Anonymous) on August 1st, 2011 02:36 am (UTC)
I want to know too, how big is the closing bouns!
ok so its a % of your pay or a weeks pay at your current rate or wtf!


$500? $1000? are taxes taken out? is it all just BS!
(Anonymous) on August 1st, 2011 03:30 am (UTC)
Re: I want to know too, how big is the closing bouns!
if the liquidator hasn't talked to you about it, then you aren't getting one so it really doesn't matter, now does it?
Re: I want to know too, how big is the closing bouns! - (Anonymous) on August 1st, 2011 01:41 pm (UTC) (Expand)
Re: I want to know too, how big is the closing bouns! - (Anonymous) on August 5th, 2011 03:35 pm (UTC) (Expand)
(Anonymous) on August 1st, 2011 12:28 pm (UTC)
As a supe, I could have "potentially" gotten $1,000...partly pro-rated on how long your individual store stays open, and partly based on sales goals of the entire group of stores in your cluster. When all was said and done, I wound up scheduled to get about $700 of that potential $1,000 and after being taxed up the wazoo, my check was something like $412.
(Anonymous) on August 1st, 2011 12:31 pm (UTC)
I forgot to add, the bonus is only offered to the GM, Inventory or Sales manager, and Inventory supe. Cafe supe is not eligible. The fixture point person is offered something too, but even less than what the supe is offered. Maybe $150.
(no subject) - (Anonymous) on August 2nd, 2011 01:45 am (UTC) (Expand)
(no subject) - (Anonymous) on August 3rd, 2011 05:19 pm (UTC) (Expand)
$?? - (Anonymous) on August 1st, 2011 03:57 pm (UTC) (Expand)
Re: $?? - (Anonymous) on August 2nd, 2011 12:28 am (UTC) (Expand)
Re: $?? - (Anonymous) on August 2nd, 2011 07:47 pm (UTC) (Expand)
(Deleted comment)
(Anonymous) on August 1st, 2011 11:12 pm (UTC)
were you a manager?
were you a manager?
(Anonymous) on August 1st, 2011 07:00 pm (UTC)
If you're not a supervisor or manager, you won't get anything. There is no severance or bonus or any other kind of monetary award to booksellers, cashiers, or cafe workers. I was the fixture manager at my store when it closed and I "maxed out" the bonus at $250. But since bonuses are taxed at a higher rate than wages, the check ended up being about $120. AND when I received that $120, that same amount was deducted that week from my unemployment benefits so the whole thing is a wash. Bottom line: Don't count on any additional money after your final check.
(Anonymous) on August 2nd, 2011 01:58 am (UTC)
sounds like nothing to me.
So basicly as a manager I should expect to be told of these wonderful bonus funds but I shoudn't expect anything more than $100 or so.


How long after closing does it take to get it? one guy said it came after he was on unemployement.
(Anonymous) on August 2nd, 2011 10:33 am (UTC)
Re: sounds like nothing to me.
if it's still the same as it was during the first round, managers will be offered $1250 as a "potential" bonus (GM=$2000, Inv. Supe=$1000). About $700 of that is the retention bonus for staying til the end, figured for a 9-week sale. If your store closes earlier than that, you are pro-rated in your bonus, so you don't get the entire amount. The remainder of that money is a bonus if ALL the stores in your group (the ones your liquidator is responsible for) beat a sales plan. They most likely won't, so don't count on that. They ponied up an extra $100 or so for us as a consolation prize. It's also heavily taxed: 40%, so that eats away a huge chunk. It will arrive within 30 days after all the stores in your round have closed. Mine took about a month.
Re: sounds like nothing to me. - (Anonymous) on August 2nd, 2011 06:54 pm (UTC) (Expand)
KanojoNoCarrera on August 2nd, 2011 11:29 am (UTC)
If your a low-level retail employee.....a box of paperclips and a slightly used Priority Flat Rate box.
(Anonymous) on August 4th, 2011 02:23 am (UTC)
LOL
Yes they suggested that to us too.... make a goodie bag with paperclips, some slighty used markers and razor blade box cutters for the staff... WOW what a great way to say thank you for all the bull shit and losing your job.


Well atleast the razor blades may be usefull LOL (ONLY A JOKE RELAX)
Re: LOL - KanojoNoCarrera on August 4th, 2011 07:44 am (UTC) (Expand)
(Anonymous) on August 2nd, 2011 12:35 pm (UTC)
Our liquidator said that we would all be getting bonuses. Didn't say how much but that we would be pleasantly surprised. Hope he was kidding.
(Anonymous) on August 4th, 2011 02:24 am (UTC)
pleasantly surprised LOL
pleasantly surprised means bend the F-OVER!
(Anonymous) on August 2nd, 2011 08:45 pm (UTC)
Closing Bonus
They have to document that they went over the paperwork with you. Our guy actually read it to us verbatim, one at time, of course. The sales bonus is based on the entire company making the sales plan, not any individual store. Usually if you make money on unemployment they deduct some from your unemployment check, but not one to one. You usually come out ahead, it encourages people to work part time, or for lower wages. I know at some stores they have also offered the bonus to other supervisors, merch, cafe, depending on the skill set of those employees.
(Anonymous) on August 2nd, 2011 11:09 pm (UTC)
Re: Closing Bonus
Call me a happy-go-lucky peon, but I was a Merch supervisor and was pretty damned happy to even be getting a bonus at all, as heavily pro-rated and taxed as it was. Many of my coworkers got nothing despite diligent work ethics and steadfastly good attitudes, so no complaints here.
Re: Closing Bonus - (Anonymous) on August 2nd, 2011 11:36 pm (UTC) (Expand)
(Anonymous) on August 4th, 2011 02:28 am (UTC)
They dont care about any of you
They may say "oh im a straight shooter" but they lie.... all they care about is keeping people to the end. If you want to screw them


JUST QUIT!!!!!!!! You'll still get unemployment.
(Anonymous) on August 4th, 2011 03:32 am (UTC)
Closing
So, I know unemployment laws vary, but is it generally the case that a seller could quit and still get unemployment? If so, why? Is it because the employer is a liquidator, a separate company? Also, if there are any fixture managers out there, have you sold anything under the table? It seems there isn't any sort of inventory on this stuff and I'd like to pocket some cash. The liquidators are serious dicks.
weaselusrex on August 4th, 2011 11:30 am (UTC)
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.

it IS possible to get unemployment after quitting your job, but you need to provide a fairly compelling reason to do so. Whether or not "I was hired as a bookseller NOT an everything-must-go-liquidator" is compelling or not is anybody's guess.

To everyone moving on from Borders: Don't forget you have a unique blend of experience in customer service, pos machines (both point-of-sale AND pieces of shit lol), inventory and stocking. Your skills are valuable and applicable to many fields of employment. Normally it would be easy to find work, but the jobs are not as plentiful, and the employers are being extra picky simply because they know they have the job seekers by the short hairs.

Try not to get too discouraged, it will take time. And remember: IT'S NOT YOU, IT'S CORPORATE GREED.
Nichole Pell on August 4th, 2011 06:59 pm (UTC)
Closing Bonuses
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.
(Anonymous) on August 5th, 2011 06:44 am (UTC)
Re: Closing Bonuses
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) on August 5th, 2011 04:08 am (UTC)
we closed mid-may. no bonuses for anyone.
(Anonymous) on August 5th, 2011 03:37 pm (UTC)
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) on August 5th, 2011 03:40 pm (UTC)
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.
(Anonymous) on August 6th, 2011 11:57 pm (UTC)
Hilco
Yeah Hilco promised the management team at our store bonuses and when the store closed a month late, we were told that our numbers were too low. WTF??? We sold everything and stayed until the bitter end.

We should have robbed the place blind.
(Anonymous) on August 8th, 2011 07:00 pm (UTC)
Re: Hilco
GM, SM, IS, and MS are entitled to money if they each stay until the end of the sale and don't resign. It might not be as much if the stores don't achieve the phantom sales plan, but you're entitled to something. Get a lawyer and take Hilco to court. The cheap fucks are robbing US blind.
Re: Hilco - (Anonymous) on August 10th, 2011 02:00 pm (UTC) (Expand)
Re: Hilco - (Anonymous) on August 15th, 2011 02:16 am (UTC) (Expand)
( 56 comments — Leave a comment )