290 Cabela’s employees to leave company this week
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Bass Pro Shops has revealed that 680 Cabela’s employees based at its Sidney, Nebraska, headquarters have applied for voluntary redundancy and that 290 will be leaving the business at the end of this week.
The company, which took over its retail chain rival last year in a deal reportedly worth $5.5 billion, has also invested $100,000 in an advertising campaign to offer redundant office space at Cabela’s for $1 a year.
It has also been revealed that one former Cabela’s executive has accepted the challenge thrown down by Bass Pro CEO, Johnny Morris, to contribute to the fund to help employees who will be losing their jobs. The former executive, who wishes to remain anonymous, has contributed $700,000. Morris has pledged to match any donation up to $10 million.
Bass Pro added that the other 390 Cabela’s employees who applied for the buy-out will stay on for an extended period of time to enable it to assess staffing opportunities in Sidney. At least 500 jobs including corporate, retail and distribution centre jobs, will remain in the city.
Three senior members of Cabela’s management will be transferring to the combined company’s headquarters in Springfield, Missouri. These include Ralph Castner, former Chief Financial Officer, Sarah Kaiser, Director of Diversity and Talent Management, who will become Senior Vice President of Human Resources, and Sheila Dormann, Vice President of Accounting and Controller at Cabela’s, who will become Vice President of Finance at White River Marina Group, a Bass Pro subsidiary.