Struggling electronics retailer Best Buy which is long known for a corporate culture that rewards employees for performance rather than office attendance, is following in Yahoo's footsteps.

In fact, a week after Yahoo CEO Marissa Mayer banned working from home, Best Buy announced that it is ending its flexible workplace policies and will require its 4,000 or so headquarters staff to work a traditional 40-hour week at the office while Best Buy spokesman Jeff Shelman said the decision is totally about making sure they do everything they can to reinvigorate the company for all our stakeholders.

Moreover, the new policy applies to the electronics retailer’s headquarters in Richfield, Minn., and not to most of the company's 160,000 employees dubbed "blue shirt" sales associates who work in stores.

Shelman emphasized that the new policy doesn't mean an end to all flexibility while he stressed that if we have a sick kid or say, like today, there's nine inches of snow on the ground, or we have to go to the dentist, we can have a conversation with the manager.

To conclude, that the move comes a week after Best Buy announced it would lay off 400 employees at its headquarters, which the company said would help save about $150 million. The electronics retailer also had some good news that on Friday, it posted promising fourth-quarter results, as revenue from U.S. stores open longer than 14 months rose 0.9 percent.

(AW:Samrat Biswas)