RICHFIELD , Minn., April 16 (UPI) -- U.S. retail giant Best Buy Co. has told employees it will cut jobs and demote managers and senior level sales personnel to adjust to weak consumer spending.
The company would not disclose numbers affected by the restructuring, but investment firm Sanford Bernstein estimated pay reductions of 25 percent to 50 percent were in store for 8,000 senior sales personnel, the (Minneapolis) Star Tribune reported Thursday.