Quick Note: Best Buy Axes 2,400 Jobs
July 9, 2012 4:00 PM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
RE: From a business side of things
7/10/2012 7:16:48 AM
With all due respect, most people couldn't care at all if you are 'dating a female employee'. That has gone on for YEARS and all the 'problems' from it come from everybody automatically assuming "Sleep with woman = give her perks and less harsh treatment". It doesn't always or even 1/10th of the time mean that.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
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
Sony Finally Adds 3D Blu-ray Support to PS4
July 24, 2014, 3:44 PM
IDC: Although Apple Remains at Top of Tablet Market, Share Falls from 33% to 26.9%
July 24, 2014, 1:24 PM
Thanks in Part to Strong G3 Launch, LG Sells 14.5 Million Smartphones in Q2
July 24, 2014, 10:18 AM
4.7" Samsung Galaxy Alpha Smartphone Coming Next Month
July 24, 2014, 8:28 AM
Report: Apple to Launch 12" Retina MacBook Air, 4K Desktop Product Later this Year
July 24, 2014, 4:33 AM
Apple iPhone Sales Rise Nearly 50 Percent in China for Fiscal Q3 2014
July 24, 2014, 2:04 AM
Most Popular Articles
Microsoft Kills Entertainment Unit, May Shelve Flagship Lumia "McLaren"
July 18, 2014, 7:40 PM
JJ Abrams Unveils X-Wing Starfighter for New "Star Wars" Movie
July 21, 2014, 12:24 PM
Boeing 777 Malaysian Airlines Flight 17 Crashes in Ukraine
July 17, 2014, 1:00 PM
Ford Details ’15 F-150’s 325hp, 2.7L EcoBoost V6; Demonstrates 732-lb Weight Loss
July 22, 2014, 6:55 PM
Toyota Scientist: Autonomous Vehicles May Lead to Increased Fuel Consumption, Pollution
July 18, 2014, 2:42 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information