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Richard Schulze
Best Buy cutting 400 jobs to save $150 million
Best Buy cutting 400 jobs to save $150 million

Struggling electronics retailer Best Buy Co. Inc. said Tuesday that it is cutting 400 employees at its Richfield, Minn., headquarters in an effort to save $150 million. Most of the savings won’t come from salaries, according to a company statement, and for now, the so-called Blue Shirt sales associates are protected from the ax. No store closures are planned ... yet. Why all the caveats? Tuesday’s reductions -- Best Buy’s way of “enhancing the focus on the company’s core business, removing management layers and eliminating operational inefficiencies" -- is just the first phase of several. Quiz: How well do you remember 2012? In what the company is...

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