firing overpaid workers

Perhaps Circuit City should reduce executive compensation instead of firing floor employees that make 'too much' money....



Steven Rash, 24, said he was one of 11 workers fired at a Circuit City in Asheville, N.C. The store manager broke the news during a meeting at 8:15 a.m. and escorted them out of the store. Rash said he has worked for the retailer for seven years and was one of the most junior members of the affected group.
He said he earned $11.59 an hour and worked from 15 to 20 hours a week. He received four weeks of severance pay. Though he has a full-time job at Bank of America, he said he needs to find part-time work to help pay his student loans.
"It's not just a part-time job," he said. "It's about paying the bills."
According to the U.S. Bureau of Labor Statistics, the average hourly wage for retail salespeople was $11.14 in May 2005, the latest data available.
Circuit City chief executive Philip J. Schoonover received a salary of $716,346, along with a $704,700 bonus last year. He also has long-term compensation of $3 million in stock awards and $340,000 in underlying options, according to company filings.