Best Buy confirms involuntary layoffs

Leading US electronics retailer Best Buy has announced that a number of its staff at the firm’s Minneapolis HQ are set to lose their jobs as the retailer continues to cut costs, with details to be confirmed on February 19th.

Forbes reports that Best Buy had previously run a voluntary redundancy scheme, but has been forced to make further cuts after an insufficient number of staff stepped forward.

So far specifics on numbers or positions being lost have not been announced, though executives from the firm have suggested that those who are forced to leave will receive less generous packages than those who left of their own accord.

Best Buy becomes just the latest US retailer to announce job cuts after recent moves by the likes of Discounter Target and Home Depot.