November 4th, 2008 by Reed Allmand 
Circuit City announced on Monday that it is shutting down 20% of its U.S. stores and laying off 17% of its workforce by December 31, 2008. The move comes as the company experiences its 2nd quarter of losses this year with a 13% decline in sales in September. By closing 155 of its stores, including 9 in Texas and 3 in the Dallas-Fort Worth area, Circuit City hopes to balance its books. The job losses are just the latest in a string of company layoffs in the Dallas-Fort Worth area. With job losses mounting this fast, it’s doubtful that the economy is resilient enough to replace the jobs at this rate of loss.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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