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NOVEMBER 11, 2008

Retail Losses Sap a Jobs Safety Net

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more in Economy »

Circuit City Stores Inc.'s bankruptcy-court filing Monday underscores how this economic downturn may differ from others in recent memory: The U.S. retail sector is losing its place as the employer of last resort for the newly unemployed.

Circuit City, the country's second-largest electronics chain, had already announced it would cut 6,800 people as it conducts going-out-of-business sales at one-fifth of its outlets. On Monday, the company filed for Chapter 11 bankruptcy protection, and said that the number of job losses was likely to rise to 8,000.

Circuit City is the latest of at least 14 major retail chains, including Linens ...