Via Kevin Drum, this LA Times story:
Circuit City Stores Inc. has a message for some of its best-paid employees: Work for less or work somewhere else.
The electronics retailer on Wednesday laid off 3,400 people who earned “well above” the local market rate for the sort of jobs they held at its stores. In 11 weeks they’ll be able to apply for their old positions — which will come with lower hourly wages.
Updated: William has a link to the full story on Yahoo.
I think maybe I’ll return all the stuff I’ve bought at Circuit City’s Canadian chain, The Source, and give them a chance to resell it to me in two and a half months. At a hefty discount, of course.
You’re not alone buddy. I’ll never buy from them again. I wonder how much the cretin idiot who came up with this rot makes. I could just puke! Death to Circuit Gulag.
Read the previous comments and agree that Circuit City brass were foolish.
I live not too far from a steel mill that produces autmotive steel and pays employees well, yet look in the employee parking lot and most of the cars were made in other countries.
Shoppers buy at the lowest price. If Circuit City doesn’t offer that they go elsewhere. In retail business employee salaries are a major cost. I don’t know if salary cuts were imperative at Circuit City but if they were then the way taken was wrong but one cannot deny the firm the right to try for reduced overheads. If the new salary being offered is below the market they will not get employees.
Fortunately there is a good market in Canada of well paying jobs. Anyone who is not prepared to work at A for the salary offered can go to B.