Editorial Summary

Best Buy (NYSE: BBY) China's trained employees are looking for employment with retail competitors Gome (0493.HK), Gome-owned Yolo and Suning (002024.SZ), reports ChinaByte citing Shanghai general mangers of Yolo and Suning. The mangers are currently in the process of interviewing several Best Buy sales associates and mid- and senior-level executives who have applied at Yolo and Suning. According to an unnamed insider, Best Buy sales associates are unsatisfied with fixed salaries of RMB2,500 per month, which are lower than those of Yolo and Suning employees who earn commission in addition to monthly salary. The insider said employees do not receive raises after working for one year.

Best Buy employees are also concerned that they will not receive promotions, said the insider. After Best Buy China named former supermarket chain Lotus regional manager Zhou Gang director of its second China store, Zhou hired several former Lotus employees to join the to-be-opened Shanghai location, according to the insider. Best Buy China marketing director and spokesman Zeng Yaozu confirmed the company has found a director for the new store, but did not disclose the director's name or when the store would be opened, according to the report.