500 agree to Best Buy buyout
MINNEAPOLIS About 500 employees at Best Buy's headquarter's agreed to take voluntary buyouts, the company reported, representing a 12.5% reduction in work force.
Best Buy said that based on the number of employees who accepted the offer, it expects to recognize in its fiscal fourth quarter a charge of approximately $60 million for this voluntary program.
The program was announced in mid-December as part of Best Buy's plans to reduce future non-customer facing expenses.