Black Friday Shoppers wait for hours in the cold for Best Buy to open it’s doors at 5 a.m. Friday, November 26, 2010.
Friday, July 6, 2012 | 2:35 p.m.
NEW YORK — Electronics retailer Best Buy Co. is laying off 600 staffers in its Geek Squad technical support division and 1,800 other store workers as it seeks to restructure operations and improve results.
The cuts amount to about 1.4 percent of the company's total staff of 167,000.
Best Buy spokesman Bruce Hight says the layoffs are part of the company's "ongoing turnaround plan." In March, the company said it would implement a restructuring designed to trim $800 million in costs.
Since then, interim CEO Mike Mikan, who is in the running for permanent CEO, has vowed there will be "no sacred cows" as the company reviews its business.
Shares ended the day down 15 cents at $21.59.
Join the Discussion:
Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.
Full comments policy