US Best Buy plans 2,400 job cuts


(MENAFN) US electronics retailer Best Buy Co Inc disclosed plans to shed 2,400 jobs, including 600 Geek Squad technicians, Reuters reported. Spokesperson Bruce Hight said that the new cuts come on top of jobs associated with 50 store closings announced in March. The job cuts include 3 percent of Geek Squad's workforce, .The other 1,800 cuts are store positions. Best Buy's, the world's largest electronics chain, saw sales tumble seven of the last eight quarters at stores open at least a year. The company said that consumers tended to use its stores as a "showroom" to try out electronic products which they then purchase for less money elsewhere, often from online retailers such as Amazon.com.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.