They have had at least 3 mass wave of employee firings, each time immediately followed by signs advertising "we're hiring". Of course. People used to earn a living there and they were the king of the biz. But they fired all their professional sales people hiring mostly school kids.
Then the CEOs got not only greedy but stupid. I'm told the mgt doesn't listen to anyone, they operate based on fear and that old oxymoron like mentality called "military intelligence". The fired CEOs got millions in bonuses for destroying their business. While they lost their market, and their stock is hardly worth the paper it is printed on. Corporate HQ is like some horrible bureaucracy, where it takes layers of mgt to get approval to get a ball point pen.
I get most of this from my college student friends who work(ed) at CC.
And guess what - their newest game is not only to hire more employees for xmas, but they are using all kinds of BS excuses to fire existing people making eg $10 or 11/hr, and replacing them with people making $8.25/hr. So this time, they hope to get less publicity about the firings, and avoid giving the fired employees any severance pay at all.
But what the dummies don't understand is that this has been noticed by the local church communities social justice groups, of which I am the loca; interfaith director and co-ordinator. And we talk all over the country about these kinds of scenes on our pvt blogs. This abhorrent behavior is mentioned in church teachings about social justice.. No wonder you can go into a large circuit city store, and find it has5-8 employees present, and 2-4 customers much of the time. While the local Best Buy will have about 8-15 customers on a slow day.
The management is getting what they deserve, except we need to outlaw employment contracts that give mgt people bonuses for failing, while ordinary people are fired and given nothing but a sign here, get out, and don't come back notice.
Nice guys. Too bad for the people who worked there faithfully for years. If the board of directors had any guts and decency they would throw out their failing mgt, and give them a gift card to Wendy's or Burger king for a going away present..
It is hard to believe they can survive in any similar form. They aren't number two after BB. They are about number 4, after BB, web purchases, the big box stores like Walmart / Sams club, Target, even eg Macy's with their IPOD vending machines, Radio shack, etc.
To bad for circuit city, but maybe a lesson for some other retailers who treat their employees like dung, terrorize them, while the mgt wonders what is happening.
In reply to: "Circuit City gets delisting notice from NYSE"
November 1, 2008
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