A Reason to Shop at Best Buy

From Circuit City: "The company has completed a wage management initiative that will result in the separation of approximately 3,400 store Associates. The separations, which are occurring today, focused on Associates who were paid well above the market-based salary range for their role. New Associates will be hired for these positions and compensated at the current market range for the job."

OK, it's not a mass firing, it's just a "wage management initiative" leading to a "separation" of 3,400 people. What b.s.

By the way, new CEO Phillip J. Schoonover made only $8.52 million in 2006. Maybe they should fire him and replace him with an entry-level worker at $8 an hour. That would save a lot of money and I'd bet most people wouldn't be able to notice any difference at Circuit City (except perhaps the 3,400 separated folks).

This is modern Darwinian Capitalism at its best...executive director of Change to Win Greg Tarpinian put it nicely:

"It's workers as disposable commodities, put in and put out based on whatever happens to the stock price".

Send old Phil an email. At least the stock is down today.