Carphone Warehouse cutting 450 jobs

European mobile retailer, Carphone Warehouse, is feeling the heat from the global economic crisis. They announced today to cut 450 back office positions which won’t affect staff from their retail stores that help customers face to face. The number actually represents roughly 5 percent of the total workforce employed by them. The reduction might not be all bad news though for Best Buy Europe which owns a good amount of share in Carphone Warehouse and plans to expand their presence in the UK. Roughly 1,000 people are expected to be recruited in the next 18 months for their larger store format. It might hurt in the short term, but the long term outlook seems a bit more on the positive side. 

source: Financial Times