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Best Buy plans involuntary HQ layoffs

More details to follow in February after voluntary packages missed targets

US retail giant Best Buy will be forced to make involuntary redundancies at its Minneapolis headquarters after not enough people took up the offer of voluntary packages.

Corporate staff were offered those packages in December as the company attempts to cut costs in the ailing economy, but only 500 of around 4000 employees chose to leave, reports Forbes.

Details on the number of additional posts to be lost are expected to come in February, although staff have been informed that further layoffs will be necessary.

According to KeyBanc Capital Markets analyst Brad Thomas, the retailer "tried to be innovative and thoughtful to employees by offering the voluntary packages, [but] given the weak sales environment [further job losses are] really not a surprise."

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Phil Elliott