It layed off 3,400 store workers in March (8.5 % of their total workl force) and hired lower-paid employees to replace them, They plan to cut about 130 corporate jobs. Circuit City, the nation's No. 2 consumer electronics retailer behind Best Buy, said 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, with obviusly less experience and incentive.
I admit, I work for corporate as a graphic designer and I'm a little "worried" to say the least. What do you all think of this strategy??
Mind you, a week after the layoffs all the executives went to Hawaii for a "meeting" - another way to cut costs I assume? Not to mention the $750,000+ salary and $700,000 in bonuses & stock options the CEO and other top execs receive ...
2007-05-31
01:29:17
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7 answers
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asked by
Anonymous
in
Corporations