Higher Payrolls = Higher Profits

Remember Circuit City? Here is a quote from The New Yorker:

“In 2007, Circuit City fired more than three thousand of its most experienced salesmen, replacing them with newer workers whom it could pay less. Its sales dropped, and it was bankrupt within a couple of years.”

Turns out that grinding employee wages down as far as possible isn’t a path to corporate riches after all – at least for retailers. See the Harvard Business Review paper on which The New Yorker was reporting.

It’s refreshing to see companies like Uniqlo actually treating workers with respect here in the globalist Age of Sweatshops.