Circuit City "Restructure" - Round 2

[gvrugby]

The information about firings is supposed to be confidential. Obviously people are going to talk. I'm sure they'll have a press release of some sort tomorrow.

All part of the North Star initiative. 5-year plan to restructure the company. Sure seems to me like the corporate SOBs are trying to make the company like best buy. Chunkee's got it right though. Those up top only care about the all-powerful dollar. If they can get rid of people to give themselves bigger bonuses, then that's what they'll do.

 

[Exterous]

Well, our roadshop manager did get the axe (I expect this was the same across the company)- we'll ifnd out about the rest of the employees tomorrow

 

[imported_cinder]

bump update.

 

[apac]

Take this opportunity to figure out what you really want to do with your life. I'm sure it wasn't working at CC when you're 40 anyway.

 

[imported_cinder]

Nah its really just a job while I'm in college. Its not a huge deal for my situation, but for a lot of others in my store it was. Just time to move on, and I am getting paid to move on.

 

[dmcowen674]

That's 7,000 jobs cut this week by IBM, Motorola, Circuit City and a couple others.

5-31-2007 Circuit City cutting another 850 jobs

Circuit City Stores Inc., the second-largest U.S. consumer-electronics chain and owner of stores in Brick, Eatontown and Freehold Township, said it is cutting about 850 jobs in the U.S., on top of 3,400 eliminated in March, as it realigns store management.

 

[Ilmater]

Stores like CC and CompUSA are in danger. They both had a reputation for being too expensive, and while CC got away from that somewhat, CompUSA is still a massive rip-off. I walked the local CU when it was closing its doors, and even with 40 - 50% off, things were MORE expensive there than they would have been online. Not on par, MORE expensive. That's awful. They thrive off the stupidity of their customers, and they can't hope to do that any more.

Sorry to hear it man, best of luck finding a new job, but I'm telling you, it's only a matter of time before CC is history.

 

[slag]

Originally posted by: Citrix
you know what would be really cool? is that one day when a national company does crap like this the employees in every store across the country just quits.

that would send a nice juicy message.

and that message would be screw you for trying to stay alive in this cutthroat business.

You make it sound like companies want to lay off employees. Nothing could be further from the truth. A walk-out hurts everyone and doesn't prove anything. Companies that are doing this are trying desparately to cut costs, stay in business, and make it work.

No one likes to fire people. Unfortunately, sometimes these layoffs are necessary to get the company back on its feet. Its their way of becoming more streamlined and trimming the fat (if there was any to trim in the first place).

 

[imported_cinder]

Some of my fellow associates already quit on the spot when they found out that I was laid off. I was the leader in everything in the department. I trained every one of them. And they are upset that a person like myself is being laid off.

 

[athithi]

Originally posted by: slag

Originally posted by: Citrix
you know what would be really cool? is that one day when a national company does crap like this the employees in every store across the country just quits.

that would send a nice juicy message.

and that message would be screw you for trying to stay alive in this cutthroat business.

You make it sound like companies want to lay off employees. Nothing could be further from the truth. A walk-out hurts everyone and doesn't prove anything. Companies that are doing this are trying desparately to cut costs, stay in business, and make it work.

No one likes to fire people. Unfortunately, sometimes these layoffs are necessary to get the company back on its feet. Its their way of becoming more streamlined and trimming the fat (if there was any to trim in the first place).

Are the gazillion dollar C-level salaries and bonuses necessary too? You make it sound like some schmuck making $8 an hour wants to bring the company down. The ruin always starts at the top because those are the decision-makers. They are laying off people today because they or their predecessors screwed up yesterday. Their business policies were unsound. They started it by trying to fleece their customers to satiate the shareholders and fatten their own pockets. Now, when the customers protest by staying away they are trying to rectify it by laying off employees. Cut the fat? Where do you suppose the fat is? I look at some of the actions of the top CEOs and can't help wondering 'WTF are they smoking?'

 

[Kalmah]

I go into work in about 20 minutes.. I'll see the damage soon enough.

Cinder, you where a senior and you where laid off as well? I thought seniors where being promoted to supervisor or something? ****** man, if they are going to expect the non-senior employees to take over the same responsibilities as the seniors without the extra pay, then I'm out.

 

[slag]

Originally posted by: athithi

Originally posted by: slag

Originally posted by: Citrix
you know what would be really cool? is that one day when a national company does crap like this the employees in every store across the country just quits.

that would send a nice juicy message.

and that message would be screw you for trying to stay alive in this cutthroat business.

You make it sound like companies want to lay off employees. Nothing could be further from the truth. A walk-out hurts everyone and doesn't prove anything. Companies that are doing this are trying desparately to cut costs, stay in business, and make it work.

No one likes to fire people. Unfortunately, sometimes these layoffs are necessary to get the company back on its feet. Its their way of becoming more streamlined and trimming the fat (if there was any to trim in the first place).

Are the gazillion dollar C-level salaries and bonuses necessary too? You make it sound like some schmuck making $8 an hour wants to bring the company down. The ruin always starts at the top because those are the decision-makers. They are laying off people today because they or their predecessors screwed up yesterday. Their business policies were unsound. They started it by trying to fleece their customers to satiate the shareholders and fatten their own pockets. Now, when the customers protest by staying away they are trying to rectify it by laying off employees. Cut the fat? Where do you suppose the fat is? I look at some of the actions of the top CEOs and can't help wondering 'WTF are they smoking?'

You don't understand the corporate world. It takes big bucks to lure someone into a job where they are responsible for the entire company on a global scale. You wont get someone for under 6 digits for most companies of this size. With that, comes contracts, bonuses, stock options, etc. Do i think its too much? Yes, but shareholders do not and thats the bottom line. The company is in business to make money for its shareholders, not to ensure that JohnX who makes 8 bucks an hour has a job.

On the surface, sure, it doesn't seem fair that a company president/CEO can fail horribly at his/her job and get fired and still take home 20 million dollars as a severance package, but thats the deal they negotiated with the shareholders and any headhunter team they hired to find their "guy".

 

[imported_cinder]

Yup I was a senior. The supervisor spot is the exact same thing as a senior from what I hear. There were multiple seniors in my department. I am a part-time senior. One of the few. As I said before luckily for me this is just a college job for extra cash. They gave the supervisor aka the exact same thing as senior position to the Full-time senior in the department. I have no hard feelings for the managers at my store. They all love me and didn't want to let me go. This was an order from up top and they have to follow it to the T. You have to wonder wth the CEOs are thinking though laying off all their most knowledgeable people. Sure they save some money in hiring some newbs but in the long run customers won't go there due to the fact that no one knows what the ***** they are talking about. These CEOs should look at how much they and all the other big management makes.

Off topic funny note - There is a spelling Bee on ESPN right now ROFL!

 

[Exterous]

Originally posted by: cinder
Yup I was a senior. The supervisor spot is the exact same thing as a senior from what I hear. There were multiple seniors in my department. I am a part-time senior. One of the few. As I said before luckily for me this is just a college job for extra cash. They gave the supervisor aka the exact same thing as senior position to the Full-time senior in the department. I have no hard feelings for the managers at my store. They all love me and didn't want to let me go. This was an order from up top and they have to follow it to the T. You have to wonder wth the CEOs are thinking though laying off all their most knowledgeable people. Sure they save some money in hiring some newbs but in the long run customers won't go there due to the fact that no one knows what the ***** they are talking about. These CEOs should look at how much they and all the other big management makes.

Off topic funny note - There is a spelling Bee on ESPN right now ROFL!

Sorry to hear about being fired man.
Our entertainment department lost 3 of its most senior employees. Add to the fact that they already lost the #1 HTI seller in the district in the last round of firings, they are in trouble and severely understaffed. Good luck finding good information about your next TV purchase at our store.

In a colossal fvckup our idiot store director asked 3 people to the morning meeting that didn't need to be there. Thats 3 people who didn't know for 3 days if they were losing their job or not who woke up early just to come into the store 2 hours early for no reason.

 

[laxjax13]

So far all ive heard was the roadshop manager in our chicago store got cut. It sucks because hes such a great guy.

The moral in the store has already been really low from the cuts done a few months ago and now that the roadshop manager is gone the whole roadshop dpt is planning on walking out.

Im going to go pick up my check in a few hours so il see what else is up

 

[JeffreyLebowski]

Originally posted by: slag

Originally posted by: Citrix
you know what would be really cool? is that one day when a national company does crap like this the employees in every store across the country just quits.

that would send a nice juicy message.

and that message would be screw you for trying to stay alive in this cutthroat business.

You make it sound like companies want to lay off employees. Nothing could be further from the truth. A walk-out hurts everyone and doesn't prove anything. Companies that are doing this are trying desparately to cut costs, stay in business, and make it work.

No one likes to fire people. Unfortunately, sometimes these layoffs are necessary to get the company back on its feet. Its their way of becoming more streamlined and trimming the fat (if there was any to trim in the first place).

How many Top execs are willing to take a pay cut so that others can stay employed and it doesn't affect the bottom line? What's that I hear the masses telling me?? NON. Why should someone making a million a year to sink a company take a pay cut to save it? Those millions they get each year can be invested and they can live off of that if need be. They do not care about the people in the store or even in the corporate area.
Hell the last big company I worked for had Financial problems so the VP's fired their secretaries and gave them selves commensurate raises because they had to do their secretaries work. It doesn't save money but it shows them cutting jobs trying to help.

 

[ColdFusion718]

Originally posted by: cinder
Well luckily I am in college and I work there for extra money. I have loans/fin. aid to pay for school. So finding a new job isn't really a big deal. Its just crappy ya know. I understand how a lot of you feel about buying at stores like CCity and Best Buy...shoot..I don't even buy stuff there with my discounts. Half the time I can find it cheaper online still. Like I said, as of now its a really good paying college kids job.

I believe you might qualify for unemployment benefits. Go check it out.

 

[Yreka]

Sorry man, that sucks

 

[jer0009]

THis is actually the third round of layoffs for the company.
I was in the first round back in 2003. I think this company is going nowhere and you should be glad they laid you off.
Take some time and learn some new stuff and move up in the world like I did.
ANd by the way you will qualify for unemployment.
Good luck

 

[Savarak]

Originally posted by: jhbball
Find a real job. Retail blows.

fixed


update: but sorry man, good luck with the new search!

 

[razor2025]

As long as executives aren't in the same "free market" like regular workers are, the idiocy WILL continue.

So, how does CC's "5-star plan" going to work out? They're cutting cost by firing employees, which invariably will decrease their already ****** service quality. They won't be able to compete price/offering wise with BB, as BB has more capital and buying power. So, how can CC differentiate itself from other stores and actually make itself more "profitable"? You can only cut so much cost, so something besides "cutting cost" has to be brought forth to bring your company back up. If I was CC, I would actually try to spend more money on training and putting out incentives for employees to perform. Brining back commission will certainly make the employees care about the "numbers", than simply not being yelled at near closing time. Since BB's lacking in customer service, you can compete with them in that angle? Or is every single consumer in US all about "cheapest crap possible"?

 

[Mrfrog840]

1st round of layoffs-If you didn't make the store as much as they were paying you, you were fired


2nd round(this round)-restructuring to include a services manager to handle their firedog installation services for HT and PC. Possibly cutting operations manager and combining both positions.

You will have to see.

Sorry to hear you got laid off man

 

[ponyo]

I would love to short this sorry excuse of a company but what scares me is the current private equity climate. LBOs seem to be happening daily as investment firms have more money than they know what to do with.

 

[necine]

It's just circuit city... You'll find another job. ****** them anyways.

 

[jpeyton]

Now you can collect some sweet unemployment checks.

Might as well; you've been paying into the pot for years.