We are cutting around 2000 managers, cutting deep and to the bone - we will pay for this dearly as most of the knowledge is with the folks who are being let go. We are not going to be able to survive this crisis without experienced staff so this is yet another poor decision Hubert Joly and his minions. I'd like to note here that despite layoffs and downsizing, Best Buy is paying enormous bonuses to the executives so for them, things are not bad at all. All what they need is a few more years like this, they just need to suck the financial blood of our company for a few more years and they will be fine. Best Buy will be ruined, but they and their children will be set for life - just look at the numbers and you'll be clear on what I am trying to say here. For example, look at what's going on in Canada, where 1000 people were let go or 6% of the overall work force - that's a huge blow and we'll see the same kind of numbers here in the states. Layoffs at Best Buy will continue to be inevitable and there is no place where you'd be able to hide. Joly says he will not be closing stores which is a bunch of bull - if your memory serves well, remember 2012 when we had 2,400 layoffs in a single day and we closed over 50 stores. 2014 is by all means worse than 2012, the housing market is paralyzed by rising interest rates and people have less money today than they had in 2012. On top of everything, we just do not have a response for amazon.com's strategy, they are killing us on price, volume, customer service, you name it - that's why Joly should not take a penny home and that's why he should be laid off first. Finally, the good news is that we are cutting deep on the corporate side as we got very fat there and we'll need to eliminate more positions in Ritchfield. Last February (2013) we cut almost 500 corporate workers and another 400 in 2012 - so, now we have around 5000 in corporate and we used to have around 10,000 in 2005 or so - that's called improvement and savings. So, if you are in the store, hang in there - we'll have a very turbulent 2014.
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Where did you find this salary information, this is not in line with what I know
I'd say that managers make more than $90K, at least here in California. But, if you cut managers, who will be managing the work? The folks are not self governed, we cannot expect that all things function w/out managers.
Is glassdoor about right that Best Buy managers make $90k and asst managers make $55k? Seems like there could be a lot of cost savings by laying off people with those kinds of salaries.