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Circuit City is "replacing" 3400 workers in stores. Nothing new here, except that they are firing these workers to get people to do the same job for LESS hourly wages. I realize that thats the way to make more money, but these employees have made "Too much" money. thats cutting into the profit.

To quote Chief Executive Philip J. Schoonover, "They will be replaced as soon as possible with emplyoees who will be paid at the current market range" Sound like Cooper Tire, who in 2001 moved to Mexico to "Better compete" with the other Tire makers. Cooper Tires are still price the same as before. Meaning better PROFITS, not prices.

I know that business, but Man Oh Man!. when will it end? I just wanted to sound off.

Smaybe I'll become CEO of Circuit city, I'll fire employees for less than Schoonover is being paid. Thats the American way!

Next time I buy it will not be from Circuit City.

Yeah it sux..... but they look at the alternative.... your next Buffett CD will be $25 if they dont mke some changes...and then you won't buy from them anyway....

Just currious what sort of bonus the execs received this year I have to admit the main reason I shop at CC is they are NOT Best Buy. It's very ugly and a sign of the times we live in.

Tequila Revenge wrote:Just currious what sort of bonus the execs received this year I have to admit the main reason I shop at CC is they are NOT Best Buy. It's very ugly and a sign of the times we live in.

I seriously can't abide either store....we are fortunate to have a local retailer that is big enough in the west to be fairly competitve in prices when it comes to electronics.....I'll pay a buck or two more for cds and just get them at Target or amazon....

moeron wrote:To quote Chief Executive Philip J. Schoonover, "They will be replaced as soon as possible with emplyoees who will be paid at the current market range" Sound like Cooper Tire, who in 2001 moved to Mexico to "Better compete" with the other Tire makers. Cooper Tires are still price the same as before. Meaning better PROFITS, not prices.

I'll take his job for half of what he gets paid. Doubt he'd take me up on the offer.

pbans wrote:

Tequila Revenge wrote:Just currious what sort of bonus the execs received this year I have to admit the main reason I shop at CC is they are NOT Best Buy. It's very ugly and a sign of the times we live in.

I seriously can't abide either store....we are fortunate to have a local retailer that is big enough in the west to be fairly competitve in prices when it comes to electronics.....I'll pay a buck or two more for cds and just get them at Target or amazon....

Would I pay more money for produts at a company that paid thier employee's a livable wage, offered health insurance and other benefits, invested in renewable energy and sustainable business practices and gave back a little something to thier communities? Yes I would. Maybe it's time for Starbucks to get into retail.

SharkOnLand wrote:

moeron wrote:To quote Chief Executive Philip J. Schoonover, "They will be replaced as soon as possible with emplyoees who will be paid at the current market range" Sound like Cooper Tire, who in 2001 moved to Mexico to "Better compete" with the other Tire makers. Cooper Tires are still price the same as before. Meaning better PROFITS, not prices.

I'll take his job for half of what he gets paid. Doubt he'd take me up on the offer.

well.. it's better to cut people who have been there on the front lines and doing their jobs for longer than the traditional turnover cycle. That d*m COLA thing..

of course, Schoonover has only been there a year.. guess he wanted to move up in the seniority lists.

circuit city would get in big trouble of the employees were federal attorney's.

I lost my job last year. I was replaced by a computer. Screen based trading is the rage. I went back to school 3 years ago. I saw the writing on the wall. Most family's just get hit and hard. The CEO'S answer only to the share holders. Smaybe if they also had to answer to the public.

moeron wrote:I lost my job last year. I was replaced by a computer. Screen based trading is the rage. I went back to school 3 years ago. I saw the writing on the wall. Most family's just get hit and hard. The CEO'S answer only to the share holders. Smaybe if they also had to answer to the public.

Most CEO's don't answer to the shareholders, they answer to the Board of Directors. If they really answered to the shareholders you wouldn't see those ridiculous compensation packages.

"Work diligently and with integrity, and you will get your just reward."

Many years ago, I saw that on a poster. It accompanied a picture of someone impaled on a giant screw.

Old wisdom never seems to change.

pbans wrote:

Tequila Revenge wrote:Just currious what sort of bonus the execs received this year I have to admit the main reason I shop at CC is they are NOT Best Buy. It's very ugly and a sign of the times we live in.

I seriously can't abide either store....we are fortunate to have a local retailer that is big enough in the west to be fairly competitve in prices when it comes to electronics.....I'll pay a buck or two more for cds and just get them at Target or amazon....

yep for big ticket stuff..

I love the line in statement that says about the 3400 who are to be fired, "The separations, which are occurring today, focused on Associates who were paid well above the market-based salary range for their role. New Associates will be hired for these positions and compensated at the current market range for the job."

Which means one of 2 things. We gave to raises that were too high and now you are screwed. Or we had no idea that were were paying you too much to begin with and now that market is slowing down you are SOL. but in the end it means "We really screwed up and you are going to pay for it."

jimsig wrote:I love the line in statement that says about the 3400 who are to be fired, "The separations, which are occurring today, focused on Associates who were paid well above the market-based salary range for their role. New Associates will be hired for these positions and compensated at the current market range for the job."

Which means one of 2 things. We gave to raises that were too high and now you are screwed. Or we had no idea that were were paying you too much to begin with and now that market is slowing down you are SOL. but in the end it means "We really screwed up and you are going to pay for it."

3rd one: you have been here long enough that COLAs are making bigger impacts than we anticipated. I am just curious if that is a legitimate reason to fire someone, given that they are not eliminating jobs.

jimsig wrote:I love the line in statement that says about the 3400 who are to be fired, "The separations, which are occurring today, focused on Associates who were paid well above the market-based salary range for their role. New Associates will be hired for these positions and compensated at the current market range for the job."

Which means one of 2 things. We gave to raises that were too high and now you are screwed. Or we had no idea that were were paying you too much to begin with and now that market is slowing down you are SOL. but in the end it means "We really screwed up and you are going to pay for it."

This is from today's Chicago Sun Times---well above the market based salary range, huh? some of these folks were making 50cents an hour more.

http://www.suntimes.com/business/321529 ... 31.article

So my question is.
What ever happened to the Theory that it is Cheaper to pay raises
for "older" workers
than to pay for Mistakes and training for New ones???

I have to wonder whether this was a convenient excuse to get rid of some not-quite-bad-enough-to-fire employees, as in the people that are nice to customers, but morale cancers to other employees.

Coconuts wrote:I have to wonder whether this was a convenient excuse to get rid of some not-quite-bad-enough-to-fire employees, as in the people that are nice to customers, but morale cancers to other employees.

that may be.. We have some of those that could go..

I think we all have them.