Best Buy cuts jobs at its headquarters

US-based consumer electronics retailer Best Buy has announced plans to lay off 250 workers at its corporate headquarters in Minneapolis as it cuts costs during the economic downturn. The retailer said it would create 210 new posts that the workers could take up, resulting in a net job loss of 40 jobs. The retailer said last month that involuntary layoffs would be necessary after about 500 of around 4,000 corporate workers accepted voluntary exit packages that provided 7.5 months severance for the average non-managerial corporate staffer.

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