MORE

Best Buy reportedly laying off 2,000 managers

Between Target's shrinking profits and this, the Twin Cities big businesses have certainly had better news cycles.
Between Target's shrinking profits and this, the Twin Cities big businesses have certainly had better news cycles.

A year to the day after Best Buy announced it was laying off 400 employees at its Richfield headquarters, the New York Post, citing unnamed sources, reports that the company is axing 2,000 managers.

SEE ALSO: Best Buy hit by Banksy-style prankster

"Affected workers are mostly in middle management, many of them commanding salaries soaring into the six-figure range as they supervised product categories at upwards of a dozen stores each," the Post reports, adding that no store closings are planned at present.

Reached on the phone this afternoon, Best Buy spokesperson Jon Sandler declined comment. The company will release its fourth quarter earnings report tomorrow morning.

Unfortunately, layoffs have become a fact of life at Best Buy these days. Even after those 400 workers were shown the door early last year, layoffs continued, with reports emerging in the summer that Tuesdays had become known as "termination Tuesdays" at Best Buy HQ.

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at arupar@citypages.com.


Sponsor Content

Newsletters

All-access pass to top stories, events and offers around town.

Sign Up >

No Thanks!

Remind Me Later >