Labor & Employment

Best Buy intends to cut 2,400 jobs, including 600 Geek Squad technicians, which would make up 1.4% of its work force, Reuters reported Friday.

According to the report, these cuts are in addition to the job reductions related to the 50 store closings the company announced in March.

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SKOKIE, Ill. — Topco Associates announced that Andrew Broccolo has joined the company as general counsel. In this new position Broccolo, 46, will report directly to Topco president and CEO Randy Skoda.

“I’m thrilled that Andy is now part of our leadership team,” Skoda said. “Andy will be instrumental in helping Topco effectively manage risk while also providing sound legal advice that assists us in driving our day-to-day business of delivering value to the association’s 52 members.”

BEAVERTON, Ore. — Larry Miller is rejoining Nike as president of the Jordan brand, the company announced Monday. Miller will be responsible for driving the global growth strategy for all aspects of the Jordan brand and will report directly to Trevor Edwards, VP global brand and category management for Nike.

Sandpoint, Idaho -- Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016.

New York – Best Buy is cutting 2,400 employees, including 1,800 store employees and 600 Geek Squad technical support associates, employees, as it seeks to restructure operations, the Associated Press reported.

The layoffs amount to about 1.4% of the company’s total staff of 167,000. A Best Buy spokesman, Bruce Hight, said the cuts were part of the company’s “ongoing turnaround plan,” according to the report.

Allegations of worker abuse prompted Walmart to suspend a small seafood supplier earlier this week pending the outcome of an investigation, according to a Reuters report.

The rhetoric over allowing foreign direct investment in India is reminiscent of the rhetoric that would have occurred in the United States 30 years ago had Walmart’s critics knew then what they profess to know now.

EMERYVILLE, Calif. — Educational toy manufacturer LeapFrog Enterprises announced that chief financial officer Mark Etnyre has resigned from the company in order to spend more time with his family and pursue personal interests. The resignation will be effective as of Oct. 1.

According to the Employment Situation report from the Bureau of Labor Statistics, the national unemployment rate held at 8.2%. Nonfarm payroll employment continued to edge up in June, with 80,000 jobs added.

Professional and business services added 47,000 jobs in June, while health care added 13,000 jobs and wholesale trade added 9,000 in June.

New York -- Best Buy Co. is laying off about 650 employees from its Geek Squad division, according to a report by KARE 11.

The report said the company is eliminating positions that service appliances and televisions in customer's homes. Best Buy said it is not getting rid of home service, but is restructuring it and realigning its work force across all service channels.

If laid off workers are unable to find another position within Best Buy, their last day will be Aug. 1, the report said.