28 March 2007
Geniuses at work
News Item: Circuit City Stores Inc. unveiled further details of its restructuring plan on Wednesday, including cutting about 3,400 store associate jobs. The cuts, which are occurring today, focused on associates whom Circuit City said "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, the company said.
Now that's brilliant: sack all the experienced people and replace them with newbies. The only possible explanation is that Circuit City CEO Philip Schoonover, after just over a year on the job, is bucking for a position in what remains of the Bush administration.Posted at 5:34 PM to Dyssynergy