Best Buy has disclosed the locations of the 50 stores it will be closing. The world’s largest specialty electronics chain will close seven locations in California, six in Illinois, six in Minnesota and even one way uptown New York City. In a statement, Best Buy said, “This wasn’t an easy decision to make … we chose the stores carefully, and are working to ensure the impact to our employees will be as minimal as possible.” Best Buy said most of the stores will close by May 12, with three locations closing later this summer. There is no word on how many employees will be laid off, but Best Buys says that the workers will be notified Saturday and will be offered severance packages. Is this the beginning of the end for Best Buy? Some say it can’t possibly survive with people shopping in the stores and purchasing online. But others believe that this cost cutting move will make Best Buy stronger. Visit shellypalmer.com for more information.
Shelly Palmer Radio Report – April 17, 2012
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).