spacetruck.net

Circuit City filed for Chapter 11 bankruptcy. By filing bankruptcy, Circuit City will be able to reorganize itself. Circuit City is only one of many companies that suffer from lack of sales and the slow down in the economy.

These companies have to cut costs by laying off employees and freezing 401k match program as well as freezing bonuses. Each company has different policies of how to cut costs but it does not help employees that have been laid off.

No matter how companies cut costs, employees suffer. Lots of Circuit City stores have closed or are closing. All non profitable stores will be gone is not already.