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Best Buy Cuts Wages, Jobs in its Stores
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Rogelio V. Solis / AP |
Best Buy [BBY
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] would not disclose the number of people affected. A spokesman said the move will put more sales people in front of customers. Many store managers and senior-level sales people will go to jobs where they'll interact more directly with shoppers.
New York investment firm Sanford Bernstein said in a research note Wednesday that as many as 1,000 assistant store managers would lose their jobs. Up to another 8,000 senior sales associates would be demoted to jobs paying 25 percent to 50 percent less.
The numbers are estimates by Sanford Bernstein. Best Buy won't confirm or deny them.
© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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