Friday, April 17, 2009

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More Layoffs, Pay Cuts At Best Buy

An in-store reorganization under way at the nation's largest consumer-electronics retailer, Best Buy Co. Inc., could lead to job cuts and lower pay for thousands of in-store employees, an analyst said.

In a note to investors, Bernstein research analyst Colin McGranahan said Wednesday that Best Buy has implemented a reorganization over the past week that includes consolidating supervisory roles and reducing store labor costs.


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