Quick Note: Best Buy Axes 2,400 Jobs
July 9, 2012 4:00 PM
Best Buy recently announced that it will be cutting 2,400 jobs
It's no secret that Best Buy is sinking under the weight of its competitors. With online retailers like Amazon flourishing with competitive prices, the brick-and-mortar electronics store is having trouble keeping up, and it's starting to show more and more as the company continues cutting jobs.
Best Buy recently announced that it would be cutting 2,400 jobs, which is about 1.4 percent of its total workforce of 167,000. About 600 of these cuts will come from the Geek Squad service while the other 1,800 will come from store staff.
This announcement comes after the company's decision to
close 50 of its big-box stores
in March of this year. It also cut 400 corporate and support jobs.
"These changes were previously announced as part of the leadership team's ongoing turnaround plan," said Best Buy in a statement.
The company aims to cut costs by $800 million by 2015.
In addition to increased competition with the likes of Amazon, Walmart and Apple, Best Buy has had internal issues with management. Former
Best Buy CEO Brian Dunn
recently quit after the board investigated his personal relationship with a female employee. Also, Best Buy chairman and founder
Richard Schulze resigned from his position
in June, which was one year earlier than expected.
"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates
Best Buy Founder/Chairman Resigns 1 Year Early
June 8, 2012, 6:20 PM
Quick Note: Best Buy Offers Up Full List of Store Closings
April 15, 2012, 4:12 PM
UPDATED: Best Buy CEO Resigns, Company Now Citing "Personal Conduct" for Departure
April 10, 2012, 1:02 PM
3 Budget LED TVs
December 7, 2016, 5:00 AM
How is the BlackBerry DTEK50 Doing Today?
December 6, 2016, 1:00 PM
Best Secure Android Mobile Browsers:
December 5, 2016, 7:24 PM
Latest News, this is how the Moto X (2017) might look
December 3, 2016, 9:02 AM
Fake Apple Chargers Fail Safety Tests
December 2, 2016, 5:00 AM
FlowMotion veils its new smartphone stabilizer, FlowMotion One
December 1, 2016, 3:00 AM
Most Popular Articles
What Can You Do with Your New Echo Dot?
December 3, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 AM
Microsoft Surface – Which Surface is Right for You?
December 2, 2016, 5:00 AM
The iPlugmate is an Excellent iPhone Flash Drive at a Great Price. (Deal Expires in 3 Days)
November 23, 2016, 1:00 AM
Foscam R2 Home Security Camera System – High Quality High FHD Security Video Footage with No Monthly Fees
December 1, 2016, 2:00 AM
Latest Blog Posts
Latest Tech News
Dec 8, 2016, 5:11 AM
In The News
Dec 7, 2016, 5:00 AM
e Guide: Mobile Security for 2017
Dec 6, 2016, 5:00 AM
Apple Car is Not Dead
Dec 5, 2016, 1:00 AM
Dec 4, 2016, 5:00 AM
Dec 3, 2016, 5:00 AM
Dec 2, 2016, 5:00 AM
Surface Ergonomic Keyboard
Dec 1, 2016, 3:01 AM
Chapeconense plane crash: Football rallies around Brazilian Team
Nov 30, 2016, 1:00 AM
How to Extends Your iPhone’s Battery Life
Nov 29, 2016, 12:49 AM
Nov 28, 2016, 1:12 AM
News: Fidel Castro
Nov 27, 2016, 5:00 AM
Nov 26, 2016, 5:00 AM
Changes in Social status affect the way genes turn on and off within immune cells.
Nov 25, 2016, 5:12 AM
Austrian far–right hopeful Hofer may back EU vote.
Nov 24, 2016, 4:00 AM
Final Fantasy XV Leaked Before Nov 29 Launch Date
Nov 23, 2016, 1:00 AM
Nov 22, 2016, 2:26 AM
Nov 21, 2016, 1:00 AM
HTC Makes Big Moves in China
Nov 20, 2016, 2:00 AM
Do you know who is the number one company in the word?
Nov 19, 2016, 5:30 AM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information