Best Buy will cut holiday hiring by half
Best Buy Co. Inc. said it plans to cut seasonal hiring roughly in half this holiday season and instead require existing workers to put in longer hours, the Minneapolis Star Tribune reported.
With the weak economy making it tough to predict holiday sales, the Richfield, Minn.-based electronics retailer plans to call in 15,000 temporary workers, down from 29,000 last year.
Instead, it will try to hold down labor costs by having its “blue shirts” work more. Some analysts predict holiday sales will be flat compared with last year, but the International Council of Shopping Centers predicts chain store sales will increase 3.5 percent.