Los Angeles Business Journal

Best Buy Eliminates 400 Corporate Jobs

Wednesday, February 27, 2013

Best Buy Co., the world’s biggest consumer-electronics retailer, cut 400 jobs at its headquarters as Chief Executive Hubert Joly works to reduce costs, Bloomberg News reports. In addition, company founder Richard Schulze's effort to take the Richfield, Minn. company private is in trouble after attempts to secure financing have faltered, sources tell CNBC.