Re: NBC: Circuit City Layoffs

On Mar 30, 2:20 pm, "Jim Mitchell" <jnjmi...@xxxxxxxxxxxxxxxx> wrote:
http://news.yahoo.com/s/ap/20070328/ap_on_bi_ge/circuit_city_layoffs

"The electronics retailer, facing larger competitors and falling sales,

said Wednesday that it would lay off about 3,400 store >workers -
immediately - and replace them with lower-paid new hires as soon as
possible.>The laid-off workers, about 8 percent of the company's total work force,

would get a severance package and a chance to >reapply for their former
jobs, at lower pay, after a 10-week delay, the company said."

How long before some of the usual suspects show up to praise this as part of
the beauty of the "free market"?

And how is something like this not part of a much larger, insidious cycle?
Ford lays off 10,000 employees who make decent wages, thereby decreasing the
number of people who can afford bigscreen TVs at Circuit City. CC gets rid
of a significant chunk of its higher-paid salespeople, and that combined
with the loss of the Ford incomes means that there are fewer people who have
disposable incomes to drink Anheuser-Busch and Coors products. AB and Coors
don't hire any more fulltime employees to replace their union workforce that
is approaching retirement age, and fewer people are able to buy new Fords.
And we're right back where we started from. Isn't it essential to
capitalism that a healthy middle-class exists in order to invest back in the
products made by the manufacturers who hold the capital? If there are fewer
people left who can afford your goods, how does your company survive beyond
the short-term?



*********************

I suggest that people who feel as you do (and I am one of those
people) vote with their feet (so to say)--walk away from companies
that do this--don't shop in their stores, don't buy their goods--they
don't deserve your business.

.

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