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Circuit City to cut more than 3,500 jobs »

Posted by: STONERS 2 years, 7 months ago
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Circuit City Stores Inc. said Wednesday it plans to cut costs by laying off about 3,400 store workers and hiring lower-paid employees to replace them, and by trimming about 130 corporate jobs.

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Comments: 4
  • Avg rating: (+0/-0 0)STONERS
    STONERS
    March 28, 2007, 11:17 a.m.

    Circuit City, the nation's No. 2 consumer electronics retailer behind Best Buy Co. Inc., the store workers being laid off were earning "well above the market-based salary range for their role." They will be replaced with employees who will be paid at the current market range, the company said in a news release.

    "We are taking a number of aggressive actions to improve our cost and expense structure, which will better position us for improved and sustainable returns in today's marketplace," Philip J. Schoonover, Circuit City's chief executive, said in a statement.

    • Avg rating: (+19/-1 18)uncleT
      uncleT
      March 29, 2007, 9:59 a.m.

      This seems to be the trend that workers face in this country. Working two and three low paying jobs if their health permits. I don't think many communities permit mutable families to occupy the same house except for illegal immigrants who don't follow any bylaws. Gone are the days of mutual respect between companies and workers. I remember starting at the bottom in the company that was my career job for over 20 years.

      I worked hard, moving up the ranks and was very defensive of my company. In today's world what does a worker hope for, a stable job with advancement and pay increases over time? If that is not to be then the companies will see diminish sales as the buying power of Americans all across the country is reduced to the survival level.

      With most of the money concentrated in the upper 1 to 3% how would that help the bottom line for the Wal-Mart's across the country?

      • Avg rating: (+5/-0 5)slyboy2
        slyboy2
        March 29, 2007, 10:27 a.m.

        What were they thinking paying their workers $7.50 an hour! That is just unheard of! I'm glad they decided to change because I'm tired of those floor salesmen driving around in there Mercedes, talking on their bluetooths, and wearing their 800 dollar suits.

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