Best Buy laying off about 2,000 managers across the country

Source: St. Paul Pioneer Press

Best Buy plans to lay off roughly 2,000 managers as the electronics retailer continues to cut costs, according to sources at the company's Richfield headquarters.

Although no store closings are planned, the electronics retailer "has begun laying off thousands of midlevel managers nationwide as it girds for more competition," the New York Post reported Wednesday.

An official for Best Buy declined comment. The company is scheduled to report earnings on Thursday.

Still, sources say the cuts appear to be aimed at field managers, rather than managers at any of Best Buy's roughly 1,000 U.S. big-box stores.



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