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Thursday, February 12, 2009

Circuit City Wants To Pay Execs Bonuses

Circuit City wants to pay out $2.3 million in bonuses to 16 executives, $1.62 million to the rest of the management and is asking for an additional $750,000 to pay discretionary bonuses to the 34,000 non-management workers.

In all, the company will cut about 34,000 employees by the time the liquidation process ends by the first of April. A skeleton crew will stay on for as long as two years to finish winding-down operations.

I think everyone is in agreement that Circuit City was mismanaged into bankruptcy. So the people making the decisions during that time (the 16 executives) stand to make a $150k bonus if the money is divided equally. The people that worked in the stores, if their slice of the pie is divided equally, could get twenty two bucks. Seems fair.

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