Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Best Buy is reducing its workforce, so some employees are going to be laid off. It was said that the number of the affected workers was not revealed, but those who will be cut from the jobs are mostly in-store staff.
The job cut announcement
The news about Best Buy’s layoffs was revealed on Wednesday, Feb. 10, after The Wall Street Journal reported that the retail company already notified its workers about the job cuts. It was also mentioned in the memo that work hours will also be lessened since people do their shopping online these days.
The employees received the severance notification overview this week, and a snap of this memo was posted on social media. Then again, the number of staff who are set to lose their jobs was not revealed, but it may be disclosed in the coming days.
“As part of Best Buy’s Enterprise Strategy, changes in our store operating and staffing model were implemented to support how we meet the customer where and when they need us, which is changing rapidly in today’s environment,” part of the memo read.
Best Buy reportedly refused to comment on the matter, saying that the company does not really comment on matters relating to its personnel. But a source said that someone from the firm said that the workforce must evolve so the company can meet the changing needs of the consumers.
Best Buy’s statements regarding the layoffs
At any rate, USA TODAY was able to talk to Best Buy’s spokesperson in another interview. While it reiterated that the company rarely comments on issues, Keegan Shoutz shared a bit of a statement.
"As we have said before, customer shopping behavior will be permanently changed in a way that is even more digital and puts customers entirely in control to shop how they want," he told the publication. "Our workforce will need to evolve to meet the evolving needs of customers while providing more flexible opportunities for our people."
Meanwhile, as Best Buy conducts possible mass layoffs as part of its “Enterprise Strategy,” it is not clear if this will also affect all the company’s stores or it is just restricted to some territories.
Finally, the severance memo has given workers until Feb. 26 to look for another job within the company, so some of them still have a chance to stay.
