In an article from The Washington Post, it was reported that Best Buy plans to cut 600 of the "geeks" in the company's Geek Squad technical support division. However, it doesn't end there: another 1,800 store workers will be out of a job as well. As one would expect, these cuts are part of a plan to combat diminishing profits and follow a "turnaround plan."
Additional Resources
• Read more industry trade news from HomeTheaterReview.com.
• Learn about who might fill the void if Best Buy disappears.
Back in March, the company made it known that they had a restructuring plan that they were going to implement in an effort to cut $800 million in costs. Since then the company has been embroiled in scandals causing multiple top-level executives to depart the company.
The cutting of these jobs seems to be an effort to begin enacting this turnaround or restructuring plan to help get the company out of the bad light it has found itself. Looks like Best Buy is in trouble. We'll have to see if they can dig themselves out of this hole.
