| NEW YORK
NEW YORK Feb 26 Best Buy Co Inc has cut
about 400 jobs at its Richfield, Minnesota, headquarters, a
spokesman told Reuters on Tuesday.
The move is part of a larger restructuring at the world's
largest consumer electronics chain under new Chief Executive
Officer Hubert Joly, who told investors in November he aimed to
cut $725 million in costs over time.
The retailer, which currently employs about 8,000 people in
Minnesota, expects to save about $150 million from the headcount
reduction and other cuts in selling, general and administrative
costs, spokesman Matt Furman said.
The majority of these savings come from non-salary expenses.
Best Buy will report its fourth-quarter results on Thursday
and shed more light on its cost cuts.
The move did not affect any of its "Blue Shirt" sales
associates, the company said.