Due to all the cost of living increases and raises we've given you over the years, we now pay you more than we would have to pay someone new. So, we're just going to get rid of all of you and start fresh.

Circuit City Stores (CC) said Wednesday that it plans to cut costs by laying off 3,400 store associates and hiring lower-paid workers to replace them and by trimming about 130 corporate jobs.

Circuit City, the nation's No. 2 consumer electronics retailer behind Best Buy (BBY), will lay off store workers it said were earning "well above the market-based salary range for their role" and replace them with employees who will be paid at the current market range, the company said in a news release.

"We are taking a number of aggressive actions to improve our cost and expense structure, which will better position us for improved and sustainable returns in today's marketplace," said Philip J. Schoonover, Circuit City's chief executive.

And they wonder why employees don't feel any qualms about calling out "sick" or quitting suddenly to pursue a "better" opportunity. They wonder why we aren't gung ho about our jobs. I dunno. Mebbe is because we can feel the knife twisting in our back already? Like the man said, soup is good food. How does it feel to be a budget cut?

Do they, um, need any help with that?