Location: Minneapolis, Minnesota, USA.
Based on news reporting.
Best Buy Co., Inc. has announced layoffs affecting approximately 2,000 employees as part of its efforts to address a significant profit drop despite reporting better-than-expected sales. The layoffs are set to take place in early October 2023, primarily impacting the company's workforce in Minneapolis, Minnesota. This decision comes as the retailer navigates challenges in the current economic climate, aiming to streamline operations and improve profitability. The company has indicated that these cuts are necessary to adapt to changing market conditions and consumer behaviors.
Best Buy Co., Inc. cut 2,000 jobs as of October 1, 2023.
That is roughly 2.4% of the 85,000 people Best Buy Co., Inc. employs.
LayoffTalk has tracked 11 layoff events at Best Buy Co., Inc. since October 2023, affecting a combined 3,828 employees.
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