Best Buy Layoffs 2024: What to Know About the Latest Geek Squad Job Cuts

Group 1 - Best Buy has made significant layoffs in its Geek Squad support jobs, with former employees discussing the situation on Reddit [1][2] - The company has not yet disclosed the number of affected employees or the reasons behind the layoffs, although some former employees suggest financial constraints may be a factor [1] - These layoffs appear to be part of a broader strategy to reduce costs and shift focus towards artificial intelligence, amid ongoing pressures in the retail sector from inflation and rising interest rates [3] Group 2 - The retail environment is challenging, leading consumers to cut back on non-essential shopping, which may have influenced Best Buy's decision to reduce its workforce [3] - Despite the layoffs, Best Buy's stock (BBY) saw a slight increase on the morning following the news [3]