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January 14, 2008

All Business: Cost cuts have a big downside

  • Companies everywhere should learn from Circuit City's management mishaps.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Corporate leaders who think they can slash expenses without customers noticing might want to give Circuit City Stores Inc.'s top brass a call. The electronics retailer is living the nightmare of cost-cutting gone bad.

    The Richmond, Va.-based company has been in a downward spiral since it announced last spring that it would lay off thousands of experienced workers it candidly said it could replace with cheaper new hires.


     
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