Circuit City cuts " over paid " workers

[99SnakeBit]

So they are going to close 155 stores AND they have cut jobs. They are cutting employes that they feel " make too much"

http://www.washingtonpost.com/wp-dyn/content/article/2007/03/28/AR2007032802185.html

they are trying to stay afloat, I know that. But this just sucks to can people that have been there for years, and then they can re-apply to get their job back but at a much lower wage :bash: I didnt see anything in that article about company suits taking pay cuts :bored:

thoughts, opinions? This could be you and your job one day oke:

 

[straightliner1]

Did you happen to see the date on that article? (2007)

 

[99SnakeBit]

Did you happen to see the date on that article? (2007)

WTF????? this link and story is on the OPENING page of my road runner internet :??::??: maybe that date is wrong???

 

[darkhorse276]

i think it's old because im pretty sure theyre closing all of their stores.....

 

[SNCBOOM]

What sort of jobs are they cutting? What did they get paid. I know the circuit city here in Athens is in a shitty location. They're one of the closing stores. I've never liked circuit city anyway.

 

[SNCBOOM]

i think it's old because im pretty sure theyre closing all of their stores.....

No, it's a current article. They are closing 155 stores at this time.

 

[TERMIN8TR]

How in the world knowing that the company is in financial trouble can you even begin to justify the salaries of some of these ceo's? absolutely rediculous! and the unions are taking these companies down? not a chance, it's their own management...unreal.

from the article:

Circuit City chief executive Philip J. Schoonover received a salary of $716,346, along with a $704,700 bonus last year. He also has long-term compensation of $3 million in stock awards and $340,000 in underlying options, according to company filings.

 

[darkhorse276]

No, it's a current article. They are closing 155 stores at this time.

Fair enough.

It sucks to see, but they're certainly not the only ones doing it. Times are shitty.

 

[SNCBOOM]

Yep, they have been in trouble for a while though.

 

[Friendchicken]

The writing is on the wall. CC is bleeding to death. Cutting stores and staff is just the beginning. This is not a simple "Trim the Fat" or restructuring maneuver.

They are out of credit and need cash to pay off debtors before the repo man comes in and locks all the remaining stores' doors.

 

[65fastback2+2]

they cut their overpaid workers like 2 years ago

the 155 store closing is recent as of this past week

 

[STG]

What the hell is wrong with you people? Nobody owes anybody a job at any wage.

If you think you're not being paid enough, find another job. What? Nobody is willing to pay you more?

 

[taintedme]

holy crap. welcome to the past. this happened in freaking may of 2007. it also happened in 2003. shall we rehash that, as well?
truth:
- yes, we (CC) are in tough times, as are a lot of companies in our newfound (lack of) economy.
- circuit city has closed 155 of the most unprofitable stores in the most unprofitable media markets.

snakebit, why the hell are you posting articles almost 2 years old? did you also hear def leppard has a one-armed drummer? we've landed on the moon? we have a black president?

 

[TERMIN8TR]

holy crap. welcome to the past. this happened in freaking may of 2007. it also happened in 2003. shall we rehash that, as well?
truth:
- yes, we (CC) are in tough times, as are a lot of companies in our newfound (lack of) economy.
- circuit city has closed 155 of the most unprofitable stores in the most unprofitable media markets.

snakebit, why the hell are you posting articles almost 2 years old? did you also hear def leppard has a one-armed drummer? we've landed on the moon? we have a black president?

I would think an article published NOVEMBER 8th 2008 is current:

http://news.cnet.com/say-good-bye-to-circuit-city/