Best Buy cutting ‘hundreds’ of store jobs: WSJ

0
21

Best Buy Co Inc. BBY, +0.01% has cut “hundreds” of store jobs over the past few days, The Wall Street Journal reported Friday, citing people familiar with the situation. A spokeswoman for the retailer told the publication that Best Buy is seeking to lower costs amid an “ever-changing macroeconomic environment, including customers shopping more digitally than ever,” and that it eliminated “a small number of roles.” The spokeswoman also said Best Buy had other job openings in different roles and continues to invest in other areas of the business. Shares of Best Buy are down 21% this year, compared with losses of around 11% for the S&P 500 index. SPX, +1.09%

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Ratings Game: Rivian shares rise on second-quarter results: ‘The ball is finally rolling’ for the EV maker, says analyst
Next articleMarketWatch investor tools: short interest, stock screener, top funds and more

LEAVE A REPLY

Please enter your comment!
Please enter your name here