Just months after announcing plans to close more than 60 underperforming stores in North America, Circuit City said it will open 165 new stores throughout the United States over the next two years.
As part of the struggling retailer’s turnaround efforts, Circuit City on Thursday also laid off about 200 of 3,100 employees, including some officers and directors, at its corporate headquarters in Richmond,Va. The company also announced plans to move some of its 640 store managers from underperforming stores to those with stronger sales and to create a supervisory position in each of its stores, a spokesman said.
In the past, each store, no matter what its sales, had five managers, the spokesman said. Low-volume stores will now have three to four mangers. “We are going to match up the number of store managers to the number of stores based on volume,” he said.