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


  • Best Buy (BBY) layoffs are in the news amid recent Geek Squad job cuts.
  • The company laid off an unknown number of these employees last week.
  • News of the headcount reductions spread thanks to Reddit (RDDT) posts.
Best Buy Layoffs - Best Buy Layoffs 2024: What to Know About the Latest Geek Squad Job Cuts

Source: Ken Wolter /

Best Buy (NYSE:BBY) layoffs are a hot topic on Monday as the technology retailer made major cuts to its Geek Squad support jobs.

Former employees of Best Buy who were part of its Geek Squad division took to Reddit (NYSE:RDDT) over the weekend to discuss layoffs at the company. The unofficial Geek Squad subreddit was filled with workers talking about the fact that they were laid off last week.

Best Buy has yet to release a statement concerning these layoffs. That means we don’t know just how many employees were affected. The same holds true as for the reason for the layoffs.

Even so, one previous Geek Squad employee says that the Best Buy layoffs were the result of the company no longer being able to pay them. This came alongside other workers reporting that their hours had been cut significantly in the year leading up to the job cuts.

Here’s one of those comments, per PC Mag:

“It sucks, I spent more than half my life with this company and sacrificed a lot of personal time and experiences just to be let go […] At the same time, for me it’s for the best, haven’t been scheduled 40 hours since last year and it’s a struggle to get by so I’m off to a better job and better things.”

What’s Behind the Best Buy Layoffs?

These layoffs are likely an extension of previous job cuts at Best Buy. This comes as the retailer looks to reduce costs while also switching its focus to artificial intelligence (AI).

It’s also not too surprising that Best Buy would announce new layoffs. The retail sector is still under pressure from increased inflation and interest rates. This has many consumers cutting back on non-essential shopping.

BBY stock is up slightly as of Monday morning.

Investors looking for more of the most recent stock market stories are in luck!

We have all of the hottest stock market news ready to go on Monday. A few examples include what’s happening with shares of Tesla (NASDAQ:TSLA), Southwest Airlines (NYSE:LUV) and 22nd Century (NASDAQ:XXII) stock today. All of that info is available at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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