Tops associates did not cause the horrendous dismal financial collapse of their company, ending in the bankruptcy court fiasco, followed by the closure of 10 stores and now their most revered pension plan vanishing in thin air.
Tops’ 14,000 or so associates did what they usually do, work hard with total loyalty and integrity. They loved Tops, with customer service as their primary goal at all times, day or night, sacrificing all comforts when it came to work.
Reducing workers’ retirement benefit is perhaps the cruelest treatment Tops’ corporate officials can ever hand over to their faithful workers.
Tops officials have missed several golden opportunities to react quickly and fix the problem. The plan to partially replace the benefits payments with a new 401(k) program has alienated Tops associates even further.
Tops corporate officials have failed its associates on all counts. But still there is hope. Tops can still bounce back, by adhering to the basic tenets of caring for their wonderful associates, by simply restoring their existing pension plan with comparatively less financial stress.