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Friday, March 07, 2014

As RadioShack Closes Stores, CEO To Get $500K Retention Bonus

While thousands of RadioShack employees got the bad news yesterday that the beleaguered electronics chain would be shuttering 1,100 stores, there are at least five Shack staffers who can not only feel secure about their jobs, but who will each be getting hundreds of thousands of dollars just to stick around.

In a new filing [PDF] with the Securities and Exchange Commission, the Texas-based retailer stated that CEO Joe Magnacca will be the recipient of a nice $500,000 retention bonus as he tries to right the sinking ship.


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