What Do You Make of Best Buy’s ‘Termination Tuesdays’?
From recent articles on the subject, one might get the distinct impression that it’s not a lot of fun working in Best Buy’s headquarters these days. According to sources within the company, the retailer has been laying off employees in small numbers over the past couple of months instead of doing it in one large downsizing exercise. Layoff notices have landed on Tuesdays leading to some black humor at Best Buy’s HQ with workers referring to the day as "Tornado Tuesdays" or "Termination Tuesdays."
A Best Buy spokesperson, Amy von Walter, confirmed that the layoffs have been taking place, but not on a weekly basis. The cuts, which have been spread across departments, have affected as many as 25 individuals depending on the week.
"When we committed to reducing costs as part of our transformation efforts, we said our first priority was to identify savings in nonsalary expenses," Ms. von Walter told the Star Tribune. "But we have also had to make some difficult decisions involving head count, which ultimately allow us to accelerate our work to transform our business."
There has been some speculation that Best Buy is reducing staff in small numbers to avoid federal laws requiring the reporting of mass layoffs. The company has denied this.
- Best Buy quietly shaving its ranks at headquarters – Star Tribune (tiered sub.)
- Best Buy Cutting Staff on ‘Termination Tuesdays’ – Minneapolis/St. Paul Business Journal
What is your take on what is going on with Best Buy and layoffs at headquarters? Are “Termination Tuesdays” enough of a morale buster to negatively affect the performance of people working at the chain’s HQ?