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Circuit City to Fire 3,400, Rehire Cheaper Workers (Update4)
By Mark Clothier
March 28 (Bloomberg) -- Circuit City Stores Inc., the second-largest U.S. electronics retailer, will fire 3,400 of its highest-paid sales people and hire replacements willing to work for less.
The company, which reported its first loss in six quarters in December, is eliminating jobs that paid ``well above'' market rates. Those who were fired can apply for the lower-paying jobs, company spokesman Bill Cimino said today.
... Circuit City pays about $10 to $11 an hour, on average, Weinhart estimated. Entry level pay probably is close to $8 for inexperienced workers, he said.
Circuit City to Fire 3,400, Rehire Cheaper Workers (Update4)
By Mark Clothier
March 28 (Bloomberg) -- Circuit City Stores Inc., the second-largest U.S. electronics retailer, will fire 3,400 of its highest-paid sales people and hire replacements willing to work for less.
The company, which reported its first loss in six quarters in December, is eliminating jobs that paid ``well above'' market rates. Those who were fired can apply for the lower-paying jobs, company spokesman Bill Cimino said today.
... Circuit City pays about $10 to $11 an hour, on average, Weinhart estimated. Entry level pay probably is close to $8 for inexperienced workers, he said.