Monday, December 17, 2007

Circuit City makes 101 Dumbest Moments List

Circuit City makes number 70 on the 101 Dumbest Moments in Business list... sometimes the citation says it all.

70. Circuit City
Good job. You're all fired.

"In a cost-cutting move, Circuit City lays off all sales associates paid 51 cents or more per hour above an "established pay range" - essentially firing 3,400 of its top performers in one fell swoop. Over the next eight months Circuit City's share price drops by almost 70%."

See the earlier HingeFire post about Circuit City:
Retro: The Dumbest Retail Business Move of 2007

Never has a retailer deserved bankruptcy so desperately!