Best Buy cutting 2,000 managers

Best Buy has a major cost-cutting operation in the works, and the code word is “pink slip.”



The nation’s biggest electronics chain — which saw sales fall 2.6 percent during the Christmas selling season because of a price war with Amazon — has begun laying off thousands of midlevel managers nationwide as it girds for even more competition, The Post has learned.



After slashing hundreds of jobs at Best Buy’s Minneapolis HQ last year and closing unprofitable stores, CEO Hubert Joly is now swinging the ax across the retailer’s 1,056 US big-box stores and regional offices, according to insiders briefed on the plans.



No store closings are planned in this latest round of cuts, and the exact number of pink slips hasn’t yet been confirmed. But one insider said layoffs could affect upward of 2,000 managers and supervisors.

“This is ripping off the Band-Aid,” one Minneapolis source told The Post, noting that Joly is making the layoffs in a hurry to avoid uncertainty and prolonged pain.



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