According to a report from the Omaha World-Herald, Johnny Morris, the CEO of Bass Pro, is asking former Cabela’s executives and owners to donate some of the money they earned in the sale to Bass Pro to a severance fund for Cabela’s employees. Morris has pledged to match any donation.
“While I know the former owners and executives are under no obligation to lend this additional support, I hope they consider doing so,” Morris said in a statement.
Many of Cabela’s top executives earned lump-sum payments as part of “parachute packages” triggered by the sale.
Morris will match up to $10 million. In a letter to Cabela’s employees sent out in late December, Morris noted the an additional $10 million has been allocated to extend benefits and pay for employees who will lose their job as a result of the merger.
In the letter released in late December, Morris said Bass Pro was continuing to evaluate which jobs would remain in Sidney, NE, the home of Cabela’s, as well as Springfield, MO, where Bass Pro is based and where the merged company will be headquartered. He also identified that a few of the jobs that would remain in Nebraska.
Bass Pro plans to keep Cabela’s information technology division, which employs 125 people; as well as a “significant” part of Cabela’s accounting operations in Sidney. The distribution center will also will remain open. Many locals have been long been concerned about how the merger have affect jobs in Sidney. Cabela’s employs about 2,000 of the city’s 6,800 citizens.
Bass also plans to donate empty Cabela’s buildings back to the city of Sidney to support any qualified businesses that may want to open an operation in Sidney.
“One of our biggest priorities is to be as thoughtful to Cabela’s outfitters and the City of Sidney as we possibly can, and go above and beyond what is required to be very fair and supportive,” Morris wrote in that document.
Outside of Sidney, Cabela’s credit card operation will remain in Lincoln, NE, according to the letter, as well as call centers in Grand Island, Kearney, North Platte and Lincoln in the state. The call centers employ approximately 350 people. Cabela’ three Nebraska stores will also will remain open and three Cabela’s veterans will move to Springfield as part of a 12-member team that will guide the merged company.
Bass Pro closed on its $5 billion purchase of Cabela’s in September.
Photo courtesy Cabela’s
