By Dhanya Skariachan
NEW YORK, Feb 26 (Reuters) - Best Buy Co Inc has cut about 400 jobs at its Richfield, Minnesota, headquarters, a spokesman told Reuters on Tuesday.
The move is part of a larger restructuring at the world's largest consumer electronics chain under new Chief Executive Officer Hubert Joly, who told investors in November he aimed to cut $725 million in costs over time.
The retailer, which currently employs about 8,000 people in Minnesota, expects to save about $150 million from the headcount reduction and other cuts in selling, general and administrative costs, spokesman Matt Furman said.
The majority of these savings come from non-salary expenses.
Best Buy will report its fourth-quarter results on Thursday and shed more light on its cost cuts.
The move did not affect any of its "Blue Shirt" sales associates, the company said.
Best Buy To Cut 400 Jobs At Company Headquarters