Customers walk in and out of Best Buy in Danvers, Mass. Best Buy's interim CEO says the electronics seller is operating below its full potential but is committed to changing in fundamental ways.
NEW YORK (AP) â€" Electronics retailer Best Buy Co. is laying off 600 staffers in its Geek Squad technical support division and 1,800 other store workers as it seeks to restructure operations and improve results.
The cuts amount to about 1.4 percent of the company's total staff of 167,000.
Best Buy spokesman Bruce Hight says the layoffs are part of the company's "ongoing turnaround plan." In March, the company said it would implement a restructuring designed to trim $800 million in costs.
[PHOTOS:Â The 2012 U.S. Olympic Trials.]
Since then, interim CEO Mike Mikan, who is in the running for permanent CEO, has vowed there will be "no sacred cows" as the company reviews its business.
Shares ended the day down 15 cents at $21.59.
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