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      Not the best news for Best Buy employees

      (File)

      From ABC News

      Of it's 167,000 employees, electronics chain Best Buy{}is planning to lay off 1.4 percent of it's staff. It's an effort by higher-ups to trim operation costs.

      The company is looking to save 80 million dollars buy cutting its costs and restructuring. Sales have fallen victim to online stores offering the same products at cheaper prices.

      Those who will get pink slips will be 600 Geek staffers in the technical support division. 1,800 other employees will also be laid off.

      According to Best Buy interim CEO Mike Mikan, the company is changing the way it operates in an effort to improve results.

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