Best Buy Back to Hiring16 Jul, 2012 By: Chris Tribbey
By the end of the year Best Buy will hire 500 employees for its in-home Geek Squad technology service, a company spokeswoman said. The news comes just days after the retailer announced it would cut 650 employees nationwide from the unit.
The Minneapolis-based retailer is in the midst of closing 50 of its big-box stores and cutting more than 2,400 positions, following a fiscal first quarter that saw a 26% drop in income and a 28% decline in same-store entertainment sales.
Best Buy spokesman Bruce Hight told the Kansas City Business Journal that the company was hiring Geek Squad employees based more on their ability to work with small businesses, and less on their repair experience.
“They’re restructuring, and some particular types of jobs that are less in demand are going away, and others that are more in demand are increasing,” he told the paper.
It’s been a tumultuous year for Best Buy, which saw CEO Brian Dunn abruptly resign in April amid allegations of improper conduct with a female employee. In June company founder Richard Schulze began looking into a leveraged buyout of the chain, seeking to take the company private.
Schulze, who owns a little over 20% of Best Buy, resigned his post as chairman following the Dunn resignation.