Best Buy lays off more employees amid falling sales

Best Buy's latest laid off has targeted several employees including mostly in-home sales staff known as designers

Tech Desk - Jun 12, 2024

An undated image of Best Buy outlet. — Best Buy

Best Buy, a leading consumer electronics retailer, offers a wide range of products and services. However, in recent news the company is facing challenges due to declining sales that is leading the it to take measures to reduce costs and adapt to the changing market.

The popular electronics retailer has laid off many employees as part of its efforts to cut costs from the company. As the company has been struggling with declining sales since the pandemic boom ended.

The latest laid-off has targeted several employees, including mostly in-home sales staff known as designers. These designers visit’s customers' homes to help them choose products that fit their space with.

However, the company has also reduced the pay for some employees and changed the way they were paid before the recent move. Instead of earning commission on sales, consultants working for the company will now be paid based on their previous year's sales.

The layoffs are part of Best Buy's efforts to "right size" its business, as reported by the CEO Corie Barry in a recent statement, “The Company has been facing declining sales since the pandemic boom ended and is taking measures to reduce costs. Best Buy has also ended its physical media sales, pulled out of the Samsung authorized repair program, and started using generative AI for customer support.”

Many employees were let go, including some who had been serving in the company for over 20 years. The layoffs have been controversial, with some employees expressing disappointment towards the Best Buy and some putting out their frustration on social media.