About 600 Geek Squad employees are losing their jobs, and the impact on the channel remains unclear.
The Wall Street journal reported on Friday that Best Buy Co., the electronics giant that owns Geek Squad, is cutting the Geek Squad ranks by 3 percent. It was not immediately clear whether there will be any ramifications on the channel – inquiries to Best Buy representatives were not returned late Friday afternoon. The Journal noted, however, that several analysts find the job cuts to be relatively small, about a person per Best Buy store. Earlier this year, Geek Squad made a splash with its entrance into the telecom channel; master agents are able to partner with the company for field services such as computer installation and service.
The layoffs come as Best Buy struggles to compete with cheaper online retailers. A Best Buy spokesman told the Journal earlier Friday the company is realigning its employees across all service channels.
"We recently made some adjustments to position our talent where we're seeing growth and give our agents the opportunity to serve customers best," Matthew Furman, Best Buy's senior vice president of communications and public affairs, told the Journal.