RICHFIELD, MN-Employee layoffs have been frequent at locally-based consumer electronics giant Best Buy here. Employees, who say layoff notices usually arrive on Tuesday, now call the day the company usually imposes job cuts as “Termination Tuesdays.”
The company confirmed on Monday that its latest round of layoffs were imposed on all departments and ranged from single digit to as many as 25 job reductions per department. The latest layoffs follow the elimination of 400 jobs in February and the layoff of 400 workers in 2012, according to the Star-Tribune.
Best Buy spokeswoman Amy von Walter stresses that despite the dubious Tuesday moniker, the company has not been eliminating positions every week. “When we committed to reducing costs as part of our transformation efforts, we said our first priority was to identify savings in non-salary expenses,” von Walter says. “But we have also had to make some difficult decisions involving head count, which ultimately allow us to accelerate our work to transform our business.”
Best Buy at one time employed approximately 9,000 people at its corporate campus, but has recently fallen to about 5,000. See story in the Star-Tribune.