“Circuit City fired 3,400 employees in stores across the country yesterday, saying they were making too much money and would be replaced by new hires willing to work for less.”
“…Steven Rash, 24, said he was one of 11 workers fired at a Circuit City in Asheville, N.C. The store manager broke the news during a meeting at 8:15 a.m. and escorted them out of the store. Rash said he has worked for the retailer for seven years and was one of the most junior members of the affected group.
He said he earned $11.59 an hour …”
They have lost my business.
That is just sick. This is why there are unions, and it’s too bad they didn’t have one.
“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.”
Whoever’s idea this was is evil.
“Shares closed yesterday at $19.23, up 31 cents, or 2 percent.”
Disgusting. Shareholds think this is a good thing. Heartless evil monsters if you ask me.
Don’t feed the monsters – don’t shop at Circuit City until they change.