Best Buy considers in-store layoffs

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl event160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! MINNEAPOLIS – Best Buy Co. Inc. may lay off some workers as the nation’s largest consumer electronics retailer looks to rein in spending, a spokeswoman said Wednesday. A memo from Best Buy President Brian Dunn this month asked managers to find spending to cut, Best Buy spokeswoman Susan Busch said. The idea was to tell managers, “This is what we’re up against, we want to talk about the work we’re doing and what implications it might have, and to talk about the transformational changes that are under way,” she said. Busch said the changes could include layoffs. Best Buy employees will be told more about potential layoffs in April, she said. Busch said the memo did not include a cost-savings target. Wednesday, the Minneapolis Star Tribune reported that Best Buy is seeking $300 million in savings during the current fiscal year. Wall Street sent Best Buy shares plunging by 12 percent on a single day in December when the company acknowledged that its sales and administrative expenses had risen 22 percent for the quarter. Chief Executive Brad Anderson called the spending “unacceptably high” at the time. The extra spending comes as Richfield, Minn.-based Best Buy is remaking many of its stores to cater to certain types of customers. For example, it has added personal shoppers at stores aimed at suburban soccer moms, or added high-end home theater sections at stores aimed at affluent professionals. Credit Suisse analyst Gary Balter said in a research note on Wednesday that the $300 million figure would amount to about 5 percent of Best Buy’s expenses, which he called “very significant.” That would be enough to push 2006 earnings guidance above the current $2.65 per share expected by analysts, he wrote. “Many of the cost cuts could come at the store level, where the company may have gone (too) far in hiring layers of management” at the stores that focus on certain customer segments, Balter wrote. Some stores have managers for each segment, such as soccer moms. “We believe this type of extra is not necessary and eliminating these positions will not significantly impact the company’s service-centric strategy if done properly,” Balter wrote. Best Buy shares fell 64 cents, or 1.2 percent, to close at $54.52 on the New York Stock Exchange. last_img read more

How Pakistan bowler Kainat Imtiaz got inspired by India pacer Jhulan Goswami

first_imgPakistan’s medium-fast bowler Kainat Imtiaz took to Instagram to share how India pacer Jhulan Goswami inspired her to pursue cricket and become a fast bowler after India defeated Pakistan by 95 runs in the Women’s World Cup in Derby.The 25-year-old Kainat made her ODI debut in 2011 and is currently representing Pakistan in the Women’s World Cup for the first time and though she didn’t play against India on Sunday, she bagged two wickets against England women on June 27 where Pakistan lost by 107 runs (D/L method).Kainat shared with her fans on Instagram that in 2005, she saw Jhulan Goswami and “the Indian team for the first time as the Asia Cup was held in Pakistan.”The 25-year-old said that she was the “ball picker during the tournament” and saw Jhulan Goswami, “the fastest bowler of that time.”Kainat confessed that Goswami was inspiration and it is because of her that she took up cricket.advertisement”I was so impressed that I chose cricket as a career. Specifically fast bowling,” Kainat wrote.Kainat further added, “It’s a proud moment for me as after 12 years today (Sunday), in 2017, I am playing this ODI World Cup with one of my inspirations and getting more inspired.”India women registered their 10th ODI victory over Pakistan as Ekta Bisht’s 5/18 enabled them to crush Pakistan by 95 runs in the Women’s World Cup in Derby on Sunday.Indian women have emerged victorious in each of the 10 ODIs they played against Pakistan to stamp their authority over their arch-rivals.India have not only defeated Pakistan in all  the ODIs played between the two sides but seven of those wins have been 95+ runs or 10 wickets, a record that speaks highly of the domination India women have had over the neighbours.In the Women’s World Cup in Derby, India beat Pakistan to register their third consecutive win in the tournament and continued with their rich form.India, having won the toss and opting to bat first, posted a lowly 169 with Punam Raut being the highest scorer at 47 runs.In the second innings, Ekta Bisht spun a web around the Pakistani batting line-up, picking three wickets – Ayesha Zafar, Sidra Nawaz and Iram Javed – in the beginning itself leaving Pakistan reeling at 14/4 from 7.1 overs.Bisht completed her second five-wicket haul while Mansi Joshi chipped in with 2 wickets, Jhulan Goswami, Deepti Sharma and Harmanpreet Kaur picked a wicket each to bowl out Pakistan at a mere 74 runs.last_img read more