Best Buy reportedly laying off 2,000 managers

Categories: Best Buy
BestBuyCampus.jpg
Between Target's shrinking profits and this, the Twin Cities big businesses have certainly had better news cycles.
A year to the day after Best Buy announced it was laying off 400 employees at its Richfield headquarters, the New York Post, citing unnamed sources, reports that the company is axing 2,000 managers.

SEE ALSO: Best Buy hit by Banksy-style prankster

"Affected workers are mostly in middle management, many of them commanding salaries soaring into the six-figure range as they supervised product categories at upwards of a dozen stores each," the Post reports, adding that no store closings are planned at present.

Reached on the phone this afternoon, Best Buy spokesperson Jon Sandler declined comment. The company will release its fourth quarter earnings report tomorrow morning.

Unfortunately, layoffs have become a fact of life at Best Buy these days. Even after those 400 workers were shown the door early last year, layoffs continued, with reports emerging in the summer that Tuesdays had become known as "termination Tuesdays" at Best Buy HQ.

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at arupar@citypages.com.


Advertisement

My Voice Nation Help
53 comments
abc123
abc123

hd cable at best buy 24.99   hd cable at five below: you guessed it!

Michael Tabor
Michael Tabor

Wow. So many of you so willing to shoot yourselves and your state in the foot to save a few bucks. Did it ever occur to you what the cost will be when jobs are lost and sales tax dollars go away? It's like the people who bought cheap Hondas and then wondered why unemployment went up when U.S. auto workers lost their jobs. Yes, sometimes stuff is pricier, but if we keep eliminating the middleman, someday, that middleman is going to be YOU.

Star Transportation
Star Transportation

Online shopping is a double edged sword. Yes you can find items cheaper than from a retail giant like Best Buy, but consider where the product is made. Cheaper usually = Made in China.

CinderSue
CinderSue

No wonder they are losing money-EXAMPLE-my son's Best Buy Account was compromised by someone saying the were him on the phone and claiming they lost their card and requested a new one AND THEN they told Best Buy that they moved-all of this done without any questioning what so ever-this savvy thief purchased $3000 worth of merchandize and BEST BUY Has yet to removed the fraudulent charges from my sons account-THEY ARE SO LAME

Rich Rudin
Rich Rudin

Printer cord at best buy: $29.99 printer cord online: $1.73 (including sipping). Do you think best buy has good management now? Its to bad that the upper management didn't take a pay cut so that everyone would still have a job and the prices would be better.

Dan Zeug
Dan Zeug

Why would I want to shop best buy? Everything I want from them I can find much cheaper online.

Chad Liljegren
Chad Liljegren

When is Best Buy gonna start paying back the million$ they owe the city of richfield???

Bob B Bopp
Bob B Bopp

Top heavy corporations can't stand on their workers forever, you know. DUH!

Katie Hoffman
Katie Hoffman

Wondering if Obama will address this during his visit to the twin cities?

Don Ball
Don Ball

On the bright side, we might be able to unload the buildings onto some unsuspecting Jawas...

Aus Tin Padilla
Aus Tin Padilla

Best Buy's corporate big wigs should come up with a new business plan then since this one is obviously not working.

Melissa Mj
Melissa Mj

Is anyone really surprised though?

Steven Stewart
Steven Stewart

wish I had sorted this one when i first thought to. (the one that got away story)

Jason McCain
Jason McCain

Hans that is our economy and reality. Can't skirt and tip toe around it like it's not going to go out business. They shouldn't act surprised. I'd suggest looking for a back up job. I can say this because BB doesn't pay my bills.

Bill Boudewyns
Bill Boudewyns

There goes 2/3 of the remaining part of our local middle class!

jason.dorweiler
jason.dorweiler topcommenter

Unfortunately new strategies have to be made to compete with Amazon and other ecommerce sites. When is the last time anyone has been to best buy for a product other then mobile phones? I suppose that's why they opened their Richfield mobile store.

Jason McCain
Jason McCain

I haven't shopped there in about a year because I buy online. It's cheaper which in turn will put BB out of business eventually. That big ugly building on Penn and 77th will be a waste.

Nick Vikstrom
Nick Vikstrom

If best buy closes where will I get my fix of being asked if I need help every two seconds.

Noel Barrick
Noel Barrick

They were. If they worked at corporate, they are already understaffed, so they will surely feel increased strain because of having to take over the fired person's workload.

Eddie Lyndberg
Eddie Lyndberg

So long best buy. Thanks for the memories of the 90s!

Hans Dykema
Hans Dykema

All of you liking this thread do realize that more local people are now unemployed? This is not good news.

Matthew Giesen
Matthew Giesen

This blows. I hope none of the people I liked at Best Buy were affected

TwinTown77
TwinTown77

How many other large companies have recently announced massive layoffs?  



digitalprotocol
digitalprotocol topcommenter

how long until EVERYONE gets laid off from all jobs? That will be awesome. That is the day i am waiting for.

Sage James Spirtos
Sage James Spirtos

I swear to god that I think my main reason why I can't find any retail management jobs (which I'm more or less only qualified for) is because big business is getting rid of the job title all together.

Jason Swan
Jason Swan

So went the way of the dinosaurs.

Aus Tin Padilla
Aus Tin Padilla

Best Buy is where I go to look at things I'm going to buy off amazon or any other online retailer that has a much lower price. If Best Buy wants to start making money they shouldn't rip people off on things like cables, and, well, basically their whole inventory.

Daren L. MN
Daren L. MN

Amazon makes BB and Target obsolete in 2014.

midwestexplorer81
midwestexplorer81 topcommenter

People bought the Honda cars because they were reliable and got good gas mileage. I've seen many Civics over 200,000 miles. I'm the owner of a GM and it's total shit, never again! Honda here I come.

Truth_Teller_1
Truth_Teller_1 topcommenter

It makes no sense to pay more.  It's like trying to keep a dinosaur alive. 

What may have been a viable business model in the 1990's may not be so today.

Took a friend to one of their BB Mobile stores.  The store was staffed by 'children' that knew nothing about customer service or business.   They had a fascination with their personal phones, similar to a navel gazer.

ajlalk3
ajlalk3 topcommenter

Idiots like the ones commenting in here don't care.

LuckyLucile
LuckyLucile

@digitalprotocol - This would be very interesting - would we be able to claim the land that we use or even hunt to feed our children?

Randomizer
Randomizer

You know you can show them the amazon price and they will match it right there? Easier and quicker than waiting for a box in the mail and having a bunch more packaging to throw out.

TwinTown77
TwinTown77

Oh please.  Amazon is one massive data breach away from losing millions of customers.  Furthermore, Target is still quite a bit larger than Amazon and Best Buy isn't too far behind it in regards to revenue so, Amazon won't be making either obsolete anytime soon.

spincut13
spincut13

@TwinTown77  Who ISNT a massive data Breach away from losing a lot of customers? Funny you mentioned Target but neglected to mention their recent breach...


And Target thrives in part because they sell a lot of things less practical to purchase off Amazon. Their electronics/video games section is certainly very akin to a ghost city in my mind, but unlike Best Buy, that is only a small department of their store.


Also, not for nothing, but not all of Targets financial earnings statements have been fantastic either (they just haven't been quite as fire-happy as Best Buy).


I like Amazon a lot, but they are most certainly a real threat to certain types of business (and many think that it goes a bit beyond healthy competition), not a barely in it online biz that at any moment will shed millions of customers only to see Best Buy pull ahead again..

spincut13
spincut13

@digitalprotocol @spincut13  um, maybe you're getting your information mixed up, but the Scientific Atlanta 8300 I had was quite literally FROM 2004, and the interface it had looked like it was out of the 90's. That was not only what my Tivo Roamio (which came out late last year) replaced, but said ancient Scientific Atlanta box was the only thing Comcast currently supported (their new X1 box, which is about 5 years too late is still only eligible to customers wanting to get bent over on a triple play deal).


So yes, I traded in my piece of junk awful DVR for one of the best on the market, with not only the features I remember and like about Tivo, but some spiffy new ones as well. It's one less fee I am paying to comcast, and I have a great new set top box that I can even access when I'm traveling. This is a 5th generation TiVo, in case you forgot they've updated them many times since they first came out.


But more importantly, I needed it that day, so of course I went to a store to get it.


So please, make more clever comments about technology that make so much sense..

TwinTown77
TwinTown77

@spincut13  Really?  Do you not think people, myself included, know about the Target breach?  Honestly, it's been in the news every other day since the story broke.That said, I didn't neglect anything.  I simply avoided bringing up something that the entire country already knows about.



Now Trending

Minnesota Concert Tickets

From the Vault

 

Loading...