Best Buy Looks To Cut Costs By Thinning Ranks

Law360, New York (December 17, 2008, 12:00 AM EST) -- In a bid to slash corporate expenses, Best Buy Co. Inc. has offered nearly all of its corporate employees a voluntary separation package that represents a substantial increase over the base severance offer, a move that comes as the retail industry continues to suffer from decreased consumer spending.

Best Buy also warned that it might have to fire corporate staff, depending on the outcome of the voluntary program. The news that Best Buy is looking to save money by paring down its work force emerged a...
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