Best Buy cutting 'hundreds' of store jobs: WSJ
Best Buy Co Inc. has cut "hundreds" of store jobs over the past few days, The Wall Street Journal reported Friday, citing people familiar with the situation. A spokeswoman for the retailer told the publication that Best Buy is seeking to lower costs amid an "ever-changing macroeconomic environment, including customers shopping more digitally than ever," and that it eliminated "a small number of roles." The spokeswoman also said Best Buy had other job openings in different roles and continues to invest in other areas of the business. Shares of Best Buy are down 21% this year, compared with losses of around 11% for the S&P 500 index.
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