BestBuy.... a big FU virus to employees....????
April 15, 2009
– Comments (10)
From the WSJ:
Recent changes to store-staffing at consumer electronics retailer Best Buy Inc. should save the Richfield, Minn., company money but are drawing some comparisons to Circuit City Stores Inc.'s disastrous personnel moves two years ago.
Best Buy over the last week notified workers of the staffing changes, which a spokeswoman said "places greater emphasis on customer-facing employees and provides more focus and clarity to the leadership roles in the store."
In an email response, Best Buy spokeswoman Susan Busch declined to provide specifics of the staffing changes. But brokerage firm Sanford C. Bernstein told clients in a note that as many as 8,000 senior sales associates are effectively demoted to positions that could eventually pay half the hourly rate as their old jobs. The retailer is also consolidating some assistant store manager positions, which Bernstein estimates could eliminate about 1,000 salaried jobs.
....
Ms. Busch confirmed recent guidance includes the reorganization's impact but called Bernstein's figures "on the high side" while otherwise declining to provide specifics.
She also confirmed an unspecified number of jobs will be cut in what she called efforts to improve customer experiences and to evolve in a "global financial environment ... unlike anything we have ever seen."
But she rebutted comparisons to Circuit City, which laid off some of its most experienced sales representatives as it tried to cut costs but eventually went out of business earlier this year.
UNLIKE ANYTHING WE HAVE EVER SEEN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I guess we have no historical comparisons to gauage against.....hmmmmmmmmmmmmm.
RSS Headlines
Fool UK