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RICHFIELD, Minnesota (AP) — A reorganization that consumer-electronics retailer Best Buy Co. is rolling out will lead to job cuts and lower pay for thousands of Best Buy store employees, an analyst said Wednesday.

In a note to investors, Bernstein research analyst Colin McGranahan said Best Buy has implemented a reorganization over the past week that includes consolidating supervisory roles and reducing store labor costs.

He estimated about 1,000 salaried assistant store managers could be cut and 8,000 senior associates could receive pay cuts as they are essentially demoted to regular sales associates.

Supervisors who are cut will have 30 days to reapply to both supervisory and non-supervisory roles, while senior sales associates who will be come regular sales associates will receive ther pay differential in quarterly payment for three quarters before they transition to a lower hourly rate, he said.

"Overall, Best Buy expects relatively few absolute headcount reductions, but the reduction in the number of salaried assistant store manager positions will reduce the fixed component of store labor costs, and Best Buy's average pay rate should decline as well (following the period of "make whole" payments)," McGranahan said.

Best Buy has not made details of the reorganization public and did not immediately respond to requests for comment.

The weak retail environment has already lead to the demise of Best Buy's former rival Circuit City Stores Inc., which closed down all of its stores in March.

Best Buy has fared better, but in February said it would cut jobs at its corporate headquarters after it offered a voluntary severance package to most of its 4,000 employees. About 500 workers accepted the offer.

At that time, the company said it was "retooling" its store operating model to deliver a "more intuitive, customer-focused shopping experience."