Circuit City is about to go the way of the Brontosaurus

[marmar]

via MarketWatch:



Circuit City (CC) Fires Hundreds Of Headquarters Staff

By 24/7 Wall St.
Last update: 7:03 a.m. EST Nov. 8, 2008


In additions to the nearly 7,000 people who lost jobs when Circuit City (CC) closed 155 stores last week, almost 800 people who work at the company headquarters in Henrico, near Richmond, are now out of work.

At the rate things are going at the electronics retailer, everyone left at the firm will be unemployed by Christmas.

According to The Richmond Times-Dispatch, "It was a somber morning in Henrico County yesterday as several hundred newly fired Circuit City Stores Inc. employees carrying boxes streamed out of the company's headquarters."

CC's stock trades at $.25.


- Douglas A. McIntyre

[MrScorpio]

1. First Comp-USA, now Circuit City

Not good

[tularetom]

2. Boo fucking hoo - they suck

Their false advertising sucks.

Their bait and switch sales tactics suck.

Their rude clerks suck.

Their rude managers suck.

Their return poiicies suck.

Their treatment of unions sucks.

If ciicuit city was a human being they'd be rust limpballs.

BTW their logo sucks too. And their parking lot is dirty and unmaintained.

[Phoebe Loosinhouse]

3. They are/were the stupidest company in the world and I can prove it

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/02/12/BU171481.DTL&type=business

Circuit City firing its best salesmen
DAVID LAZARUS

Wednesday, February 12, 2003

Electronics giant Circuit City says it will improve its bottom line by firing thousands of employees and switching from commissions for salespeople to hourly wages.

The thing is, though, that to reduce payroll costs by about $130 million, Circuit City has given the boot to nearly all its top performers -- those who'd been pulling down the fattest commissions as a result of their hustle and hard work.

The remaining sales force is largely composed of workers previously paid by commission whose paychecks were relatively modest. They are, in other words, the company's least productive workers.

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But what's really surprising here is that the sacked salespeople -- the ones most responsible for what little profit Circuit City will be reporting later this month -- weren't even offered a chance to take pay cuts and stay with the team.

I remember meeting someone who was one of those top salespeople who was just flabbergasted when this happened who told me the stores would never survive with the dregs that remained. Their death throes took 5 years.

In those 5 years, I wonder how much capital and assets were plundered by those at the top? If I owned stock in Circuit City I'd be taking a look-see

[BlueManDude]

4. It's a bad time to be #2 - Best Buy wins the battle.

Retailers like Linens N Things going under while the #1 player Bed N Bath survive. Just not enuf customers to keep themn afloat.

[MidwestTransplant]

5. IIRC their CEO was a big Republican donor. Reap what they sow. Too bad for the employees though.