Best Buy to Lay Off 2000 Managers

Best Buy Co. Inc. (Richfield, Minn.) announced plans to lay off around 2000 management-level employees as part of an ongoing cost-cutting plan.

The St. Paul Pioneer Press said the layoffs would be “aimed at field managers rather than store managers,” and that no store closings are currently planned.

Best Buy ceo Hubert Joly has said the company would focus on making its management structure “leaner,” and he has  promised to prune what he called its “bloated” operations.