Best Buy said Tuesday it will eliminate 400 jobs at its headquarters, in an effort to trim layers of management and reduce operational expenses.
The layoffs will result in approximately $150 million in savings.
Best Buy “Blue Shirt” sales associates are not affected by the layoffs, which are the first round of cuts in a total $725 million reduction plan announced by Best Buy in November.
Separately, a report claims Best Buy founder Richard Schulze’s efforts to take back the consumer electronics retailer are in jeopardy.
Source: Best Buy
Get the news before your competitors do. CEoutlook is the daily brief read by over 6,500 dealers, reps and manufacturers across the mobile electronics industry. Subscribe free.
