Best Buy Cuts Headquarters Jobs

Best Buy has announced plans to cut 400 jobs at its corporate headquarters in Richfield, Minn. The move is part of a cost-cutting effort meant to save $150 million in costs.

The company is undergoing a process it calls “Renew Blue,” which it says entails “enhancing the focus on the company’s core business, removing management layers and eliminating operational inefficiencies.”

No store closures were announced.