Ft. Worth, Texas – RadioShack cut 206 corporate positions earlier this month as part of an ongoing cost cutting effort.
As reported previously by TWICE, casualties of the belt-tightening included senior executives Henry Chiarelli, Chuck Thompson and Dave Martella (see TWICE, Aug. 20, p. 3).
According to a RadioShack spokesperson, the company first eliminated nine executive positions as part of a corporate restructuring, which reduced the number of vice president posts from 72 to 63. The following week, 197 corporate staffers were also pink slipped.
The cutbacks came as the No. 5 CE chain finds itself under increased sales and earnings pressure due to softened demand for computer products and subscriber services amid a slowing economy. No further staff reductions are planned, the spokesperson said.