More layoffs coming to Best Buy after two years of declining sales that continued into holidays

While Best Buy executives see the consumer electronics market beginning to stabilize after two years of sliding sales, it won't be soon enough to avoid more pain, including layoffs in the coming months.

After reporting its ninth consecutive quarterly sales decline, the Richfield-based retailer said Thursday it has launched a "restructuring initiative" that will include an undisclosed number of staff cuts, mostly in the first half of this year.

"These actions are never easy," CEO Corie Barry told reporters on a media call.

https://www.startribune.com/best-buy-holiday-sales-decline-layoffs-restructuring/600347069/