We were discussing the tactics of Circuit City on this list a short
while ago. AS a follow up, I offer this portion of an article from the
WaPo today:
Circuit City's Job Cuts Backfiring, Analysts Say
By Amy Joyce
Washington Post Staff Writer
Wednesday, May 2, 2007; Page D01
Circuit City fired 3,400 of its highest-paid store employees in March,
saying it needed to hire cheaper workers to shore up its bottom line.
Now, the Richmond electronics retailer says it expects to post a
first-quarter loss next month, and analysts are blaming the job cuts.
The company, which on Monday also revised its outlook for the first
half of its fiscal year ending Feb. 29, 2008, cited poor sales of large
flat-panel and projection televisions. Analysts said Circuit City had
cast off some of its most experienced and successful people and was
losing business to competitors who have better-trained employees.
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