this post was submitted on 07 Oct 2025
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i was talking to regional manager about it the weekend before last and he mentioned that kmart has relatively good pay and benefits and that, that what was ultimate brought them down.
was this true in your experience?
It was almost certainly venture capitalists or excessive bonuses and dividends that brought it down, just like usual.
if was if this guy was any sign.
Damn employees expecting to be fairly compensated for their labor. Don't they know they're literally stealing from the executive's bonuses?
that's why i asked; working in retail myself taught me that upper management was detached from reality and i suspect that was the case here was well.
Vulture capitalism. These VCs come in and take out a huge loan to buy these established companies, then the company becomes responsible for paying the loan, and the company also pays the VC "management fees" then when the company is a hollow husk of what it used to be they start selling off assets and closing stores. Kmart, Sears, Toys R' Us, Circuit City, Party City, Payless, etc etc etc. This is how Thiel made his Billions and what Vance did before pretending to be a politician. Lately they've been going after the funeral home industry and veterinary clinics.
It makes you wonder if it'll ever stop before it hollows out everything
Considering these people are in charge of the only systems capable of regulating them, yeah probably not. And if you won't sell them they'll force you into foreclosure and buy you up even cheaper like JD Vance's Acretrader has been doing to farms.
Are you talking Australian Kmart or North American? In North America it was minimum wage for the vast majority of workers and zero benefits. I only made $11 USD (my store went under in 2016) as a supervisor with keys to the store and the safe, so it was a pretty shit arrangement. But it was a good stepping stone that got me into managing within the grocery industry, where I'm making significantly more for much more palatable work.
LOL that's rich, yeah you know who else has relatively good pay and benefits - a whole slew of companies, retail or otherwise.
literally rich; he was talking about his vacation home (as in more than one home) and it made me wonder if he was detached from the reality of the ordinary kmart workers.
Detached from reality. Period.