Circuit City plans mass layoff to hire cheaper staff
Circuit City said it will lay off about 3,400 store workers, 8 percent of its workforce, immediately and replace them with lower paid hires as soon as possible. The move draws concern over morale and customer service while the retailer, facing competition from Wal Mart and others, also lowered 2007 revenue guidance amid ongoing losses.
MENTIONED IN THIS ARTICLE
New York
Circuit City
Wal-Mart Stores Inc
Bernard Baumohl
Economic Outlook Group
Caterpillar Inc
Jess
Ken Goldstein
Conference Board
Best Buy Co. Inc
Jim Babb
New York Stock Exchange
Morningstar Inc
Brady Lemos
Wal-Mart CEO hints at dropping New York expansion
Wal-Mart chief Lee Scott told The New York Times that expanding in New York was too costly and not worth the effort, remarks seen as favorable by labor unions. Officials stressed Manhattan may be the only uncertain target, with potential interest in other boroughs if economics align. Critics argue low wages harm competition while Wal-Mart says it creates jobs and raises living standards.
MENTIONED IN THIS ARTICLE
New York
Wal-Mart
Queens
Staten Island
Manhattan
New York Times
Lee Scott
Scott
Stuart Applebaum
U.S
Canada
New York City
Applebaum
Patricia Edwards
Wentworth, Hauser & Violich
Seattle
Wal- Mart
Dow Industrials
Dow Transportation
UBT Dow
AYSE
Geass Russell
S&p
Wilshire
Fullers
UnivPwrn
Mac
Lebivennt
AldDefen
Amve
VOM Tech
VocaTac
BrChina
Ab SuiphCo
Athrono
Navins
BovieMed
Sai
EmargBlon
GamPtrs
KBW Inc
RedTest
PannTreff
AsontStath
E Braskem
FlessEn
Fordm
SunMicro
GenElec
Vitat
Métorola
Ngg
Eva Mend
Halliotris
Eat
CVS Care
Sjia Diam
Prushqqo
En Iness
Ndreon
AlcatelLuc
ExxonMbl
SemiHr
Diacte Hes Wit
At&t Inc
Er Woll
Cmgi Wrath
Micont
Tama
Ines Nasd
AlcatelLuc NY
LsarCop
Lesen Nasy
Agreet
Lave
MeDnigs
Micron Nyer
SeaziHm
Microsoft
Motorola
Cedarf Cvs Care
E NiSource
Nordson
CntryTel Cisco
Northropg NY
Chea NY
Orie Nad 1817
Crystallx G
PNG NY
Baimine Wy
Parkman NY
LE Darden HY
ExxonMat
Searstidy
Fi Thid
Hallions
Honvdlint
Usstee
Valero
Intel Shark
Lavarare
Wenkiys
NYMX
NYBT
Ioage Boao
CME
Mutuaal
Growamera
M. LG
Incbua Mit
Amercan
Cowidgrla
PIMCO
IncAmaréit
BOA
Sy Ammerican
EurPacGram
Fidelity Qivenit
HBC Owa
Vanguard Sooadmib
Vanguard
NUS Fidelty Magan LG Agata
American Funds
NewParson
forStu
A Cox Inte
Athencan Funds
BalAm MA
Figndminnva mia Ange +t
Vanguard Wadsill
Frank Tempe Franklin Income A
Fidelity Eqine
Fidelity GrowCo
Ata D.va
DOE
Cox
Delphi workers reject wage offer amid contract tensions
Delphi Corp faces renewed bargaining with the United Auto Workers after a top union official called the March 2 wage proposal from Delphi, GM and investors insulting. UAW President Gettelfinger warned of a potential strike if Delphi moves to void labor contracts, while Delphi and investors continue talks. Meanwhile Federated Department Stores plans to rename to Macy’s Inc and trade under symbol M, aiming to spotlight Macy’s national brand.
MENTIONED IN THIS ARTICLE
Detroit
Delphi Corp
United Auto Workers
Cal Rapson
Delphi
General Motors Corp
Rapson
Ohio
Lindsey Williams
UAW
Ron
Gettelfinger
Federated Department Stores Inc
Macy’s Inc
Judge blocks sale of Conn. Advocate amid union dispute
A federal judge issued a temporary injunction delaying Tribune Co. sale of The Advocate to Gannett Co. until an arbitration decision is expected by April 6. Local 2110 of the United Auto Workers alleges Gannett will not honor the collective bargaining agreement for 36 reporters and photographers.
MENTIONED IN THIS ARTICLE
Hartford
Conn
Tribune Co
Connecticut
Gannett Co
Alfred
Covello
Gannett
Stamford
Hartford Courant
United Automobile, Aerospace and Agricultural Implement Workers of America
Tribune
Maida Rosenstein
Associated Press
Advocate
Greenwich Time
Also Mentioned on This Page
Brady Schutt
Richmond
N.Y
Kevin Thornton
Federated
Macy's Group Inc
Macy's
Terry J. Lundgren
Dow Jones Industrials
Mar
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