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The Bergen Record reports that the judge overseeing the bankruptcy of the Great Atlantic & Pacific Tea Co. (A&) "has approved up to $3.9 million in retention pay for non-union management and corporate employees, with the provision that close to $1.1 million be added to the severance fund for union and non-union workers not included in the retention bonus plan."

A&P had been seeking $5 million in retention funds; the story says that "the $3.9 million in retention pay will be divided among 468 employees, provided they stay until the store sales are completed. A&P had argued that it was 'triaging' management and corporate employees and that it had lost 80 such employees since filing for bankruptcy."

It is unclear, the story says, exactly how many unionized employees will qualify for the $1.1 million in funds, or how it will be dispersed.

A&P filed for bankruptcy protection earlier this summer, and plans to close or sell all of its 296 stores and get out of the supermarket business.
KC's View:
It really only works out to about eight grand apiece if the $3.9 million is divided equally (which it won't be). But I still find the whole premise to be offensive ... the guys at the top, who steered the ship into the iceberg, get taken care of, while the folks in the engine room don't even get a lifejacket.