Best Buy laying off 400 from Richfield HQ

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Via News Release

“MINNEAPOLIS, February 26, 2013 – Best Buy Co., Inc. (NYSE: BBY) today confirmed that it has, as part of its Renew Blue transformation efforts, eliminated approximately $150 million in SG&A costs, including an approximate 400 person reduction in employee headcount at its headquarters.

The majority of these savings come from non-salary expenses. This initial reduction has been achieved by enhancing the focus on the company’s core business, removing management layers and eliminating operational inefficiencies.”

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