Best Buy Makes Cuts
Best Buy said this Tuesday that they will have to use involuntary layoffs to further cut expenses, reports the Star Tribune. These cuts will affect those currently working at Best Buy's corporate headquarter in Richfield, Minn. This news comes after a voluntary layoff of 500 employees.
Best Buy announced the corporate layoffs through e-mails and meetings at their headquarters. Layoffs will begin on Feb. 19. The layoffs will only affect those working and the corporate store. No layoffs are currently planned for retail employees. No definitive number of upcoming layoffs have been announced at this time.
Anyone terminated by Best Buy will receive a severance package including six months pay and one year of medical and dental coverage.
The cuts aim to make up for consistent same store losses over the past several months, the Pioneer Press reported.
Best Buy will be joined by Minnesota based Target in making layoffs in the coming months.