RadioShack to Send 400+ Employees Packing
Cowtown company RadioShack announced yesterday that it plans to reduce its workforce by around 400 to 450 positions. The company says that the layoffs will reduce the its overhead expense and improve its position in the marketplace. The company says that most of the reductions will come at its fancy new headquarters on the edge of downtown Fort Worth, though the exact number of employees to be let go there hasn't been decided yet. Sharp Fort Worthians will recall that Cowtown taxpayers forked over about $20,000,000.00 in tax breaks to get the company to build its brand spanking new headquarters on the site of a low-income housing project a few years ago. So much for keeping jobs in Fort Worth.
Fortune ranks Radio Shack 423 among corporations with 2005 revenue of $5,081,000,000.00.
posted by JohnPeterSmith at 11.8.06
2 Comments:
Oh great. Now I'll never find that little doohickey I'm going to need the next time I go into a Radio Shack.
As I understand it, RadioShack's biggest problem has been declining sales of cell phones. After all, most people already own three or four and when they've already got one that takes pictures and music, there's little reason to "upgrade".
I thought there was just one o, in dohickey.
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