Best Buy to "Cut The Fat"

http://www.startribune.com/535/story/336906.html

The media just got a whiff of what we were told 1 week ago. Best Buy needs to cut 300 million dollars because our SG&A (Selling, General and Administrative Expenses) sky rocketed last quarter due to how much it cost to switch existing stores to 'Customer Centric" stores. In other words Best Buy is just putting it nicely that there will be some lay-offs. I have heard through the grapevine that 1,200 people will be let go company wide starting Monday. Each store will lose 1 manager (700+ stores), some district & regional staff will be cut and then there will be cuts here at corp. They are looking at positions where people are working on projects that are not part of BBY initiatives. Lucky my position is very important to keeping the stores running properly day to day so I believe our team is safe but we do have 3 managers managing 10 people. I would be worried if I was one of those managers. One guy in our dept had a good idea. Bring in a beer on Monday then if you are let go (which I doubt I will be) we can crack open a cold one before leaving the building.