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| Subject: Buying a New Appliance? Beware of Circuit City! | |
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Author: CRM Moderator |
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Date Posted: 12:03:17 04/26/07 Thu Next time you want to buy a new appliance....keep this in mind. As Christians, the Golden Rule is to do unto others as you would like them to do unto you. How can a Christian support any company that fired its top-paying employees, simply to hire ones for less? Such is unChristian, unAmerican, and unconscionable! And if Americans and especially Christians (who make up a large percentage of consumers in the marketplace) continue to approve of this behavior by purchasing products from such companies, it can only get worse. This is just the beginning... before long, all companies will follow...brace yourself or perhaps send a message loud and clear-- don't buy from companies who treat their employees like trash! The choice is up to you. ----------------------------- Circuit City laying off its highest-paid salespeople By Bloomberg News | March 29, 2007 ATLANTA -- Circuit City Stores Inc., the second-largest US electronics retailer after Best Buy Co., fired 3,400 of its highest-paid salespeople and will hire replacements willing to work for less. The company said it's eliminating jobs that paid "well above" market rates. Those who were fired can apply for the lower pay jobs, a company spokesman said yesterday. He declined to give the wages of the fired workers or the new hires. The moves will reduce 2008 expenses by $110 million and trim $140 million in annual spending in 2009. Sales may be volatile during the first half of this fiscal year as the new salespeople learn their jobs, the company said yesterday. The fired employees will get severance pay. The job cuts, as well as plans disclosed last month to close 600 stores and cut 400 jobs, will result in a $145 million pretax charge in the fiscal 2007 fourth quarter. Circuit City pays about $10 to $11 an hour, on average, said Rick Weinhart, an analyst with BMO Capital Markets Corp. in New York. Entry-level pay probably is close to $8, for inexperienced workers, he said. Chief executive Philip Schoonover received total compensation of $8.52 million in fiscal 2006, including a salary of $975,000. © Copyright 2007 Globe Newspaper Company. [ Next Thread | Previous Thread | Next Message | Previous Message ] |