A spokeswoman for Best Buy Co. Inc. said the consumer electronics chain will lay off workers in its corporate headquarters because not enough employees opted to take a voluntary buyout.

The Richfield, Minn.-based company didn't say how many corporate jobs will be affected by the layoffs but said workers would be notified Feb. 19.

Best Buy offered voluntary severance packages last month to virtually all 4,000 corporate employees to help it survive what it called the "most challenging consumer environment" in its history.

Spokeswoman Sue Busch Nehring said about 500 employees accepted that offer.

No in-store positions were affected, and they'll be excluded from the forthcoming cuts too, she said.

Best Buy shares fell 82 cents, or 2.9 percent, to $27.44 in after-hours trading Tuesday.


I'm sure most of you guys have already heard about this but here is some info if you haven't.

I go in to BB on a regular basis as a hobby, just to see what people are buying and so forth. Recently I noticed the Magnolia section looking scavenged - TV/speaker floor models sold off with no replacements, wires just dangling and dusty credenza tops - not looked after. The Magnolia section was completely empty, no customers or staff working which was not the case even a few months ago. The rest of the store was abuzz with customers and slack-jawed employees looking miffed - normal.

Maybe the last few visits were not the norm.......