Monday, November 26, 2012
United Technologies announced last week that it would lay off 42 employees in Dakota County, 500 worldwide.
Just months after a much-publicized expansion project, United Technologies Corp. has announced that it will cut its workforce at sites in Burnsville and Eagan. The cut is part of a larger effort to restructure the company's worldwide aerospace operations, which employ over 40,000 globally, according to the Charlotte Observer. All told, UTC will lay off 500 people from now until December, less than 2 percent of its total workforce. Various media sources are reporting that 42 workers will be cut from high tech facilities in Dakota County. Until Nov. 16, about 1,600 people worked at the Sensors and Integrated Systems facilities in Burnsville and Eagan. "The cuts were across all 14 of our business units" that make up UTC Aerospace Systems, …
Saturday, July 14, 2012
Eden Prairie-based Supervalu Inc. is struggling to make a comeback—which could yield lower prices for shoppers but also result in further layoffs in the Twin Cities.
Follow us on Twitter | Like us on Facebook | Sign up for our daily newsletter The future of the Eden Prairie-based Supervalu Inc. is in question after the company announced that it would suspend quarterly dividends to shareholders and further cut its expenses—an effort that could result in more layoffs and store closings. There is also talk of selling the company—either in pieces or as a whole. Locally, any major reduction could impact Burnsville's two Cub Foods stores—one of which is the anchoring entity of a shopping complex in the Heart of the City. SUPERVALU INC. is one of the largest companies in Minnesota. Twin Cities Business ranked the grocer as the fourth largest publicly-held company, behind only UnitedHealth Group, Target …
Thursday, April 12, 2012
Former CEO Brian Dunn announced his resignation Tuesday amid an investigation into his personal conduct.
After abruptly announcing his resignation Tuesday, former Best Buy CEO Brian Dunn is under investigation for allegedly using company funds to carry out an inappropriate relationship with a female staffer, according to the Star Tribune. Best Buy acknowledged that Dunn's personal conduct was being investigated by the company's board of directors Tuesday, however, would neither confirm or deny Dunn's reported behavior with a staffer. Dunn has yet to respond to the allegations as well. According to the Star Tribune's report, a source close to the company said the board was investigating multiple complaints that Dunn had been inappropriate with a female employee. Dunn's resignation came less than two weeks after the company announced it planned…
Tuesday, April 10, 2012
The company is currently looking for a permanent replacement.
Less than two weeks after Best Buy announced it would close 50 stores, lay-off staff and remodel existing stores to cut them in size, the company's CEO Brian Dunn gave his resignation Tuesday morning. According to the Star Tribune, the decision was a mutually agreed upon decision and there were no disagreements with Dunn on any matter relating to operations, financial controls, policies or procedures. Best Buy's stock rose 52 cents, or 2.3 percent, in morning trading. Board Member Mike Mikan will serve as CEO in the interim, until a permanent replacement is determined. Burnsville's Best Buy has been spared the ax — for now. Other stores in nearby cities such as Lakeville and Edina were not so fortunate.
Friday, March 30, 2012
The Lakeville Best Buy location and four others in the Twin Cities are slated to close this fall.
After announcing it will close 50 big box stores nationwide, Richfield-based Best Buy announced Thursday night five stores in the Twin Cities will close sometime this fall. But Burnsville's Best Buy location is slated to stay in business. The Best Buy stores in Edina, Brooklyn Center, Rogers, Lakeville and Hutchinson will close, impacting more than 300 workers, according to Kare11. However, Best Buy also announced it plans to open 100 smaller and more profitable "Connected Stores," according to KSTP. "This is not an easy decision to make," Best Buy said in the Kare11 article. "We recognize the impact this news has on the people who deserve respect for the contributions they have made to our business, and for customers who shop these stores…
Official at Best Buy announced a major cut to their big box chain, but have not yet said which stores will get the ax.
Best Buy officials announced today they will close 50 of their big box stores and lay off 400 employees, according to a news release. The news comes after the Richfield-based company released its 2011 fourth quarter earnings. Best Buy officials said the closures and layoffs would save the company around $800 million annually. Burnsville has one Best Buy store, but the company has not yet specified which stores would close. The news of closures and downed profits are not a surprise to many, as Best Buy reported shortfalls after its third quarter in 2011 as well. In January 2012, a Forbes Magazine article predicted a tough year for the company and also suggested it was getting closer and closer to bankruptcy every day. Going forward, Best …