Bankrupt A&P is squeezing its hourly workers for every last cent.

The company, which weeks ago asked a bankruptcy court judge to slash severance payments to 2,100 workers by as much as 75 percent, is looking to spend that savings as part of a $5 million outlay for executive retention bonuses.

Judge Robert Drain gave the workers a bit of a break this week when he ruled that A&P could only cut severance payouts by 48 percent.

The judge has scheduled a Sept. 11 hearing regarding A&P’s wish to pay 495 executives the $5 million bonus plan — which for some will come to $125,000.

The dozen local unions representing A&P’s 28,500 workers are irate over the bonus petition.

“We are disgusted that A&P finds it acceptable to pay their executives a retention bonus,” wrote John Durso, president of Local 338, in a memo to his members, “while trying to deprive you of the full severance package that you have earned and are contractually entitled to.”

Said another union official, John Niccollai of Local 464A, “I don’t see any purpose in rewarding the same people who drove this company into bankruptcy.”

A&P filed for Chapter 11 on July 19 and it has secured three bidders — Stop & Shop, Acme and Key Food — for 118 of its 300 stores.