Thursday, March 29, 2007

you're fired

Are you a good employee, who has stuck with the company for a few years, and done well enough on the job to earn a few raises so that you make a bit more than your colleagues? Congratulations, you're fired.

So says Circuit City. They fired over 3000 people to cut costs. They didn't fire executives making six figures who may have some responsibility for the company's lacklustre performance. The CEO still makes over $700,000 a year, with a $700,000 "bonus." And $3 million in stock awards. And Circuit City fired salesmen making under $12 an hour.

The fired get a severance package (how much? Don't know. Probably less than $700,000 each.). And they are allowed to apply for jobs at Circuit City again in 10 weeks. When, no doubt, they will be offered much less than they were making before.

Another dispatch from Republican America. Oh, and Circuit City's stock price went up 2% on the news. Woohoo.

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