According to reports, Best Buy corporate slashed 400 jobs at its Richfield, MN headquarters. The reduction is part of the "Renew Blue" initiative, attempting to restore the company's sales and profit levels and fight off online competitors with lower expenses. The company warns of more cuts to come. Best Buy says this round of price cuts don't include any of its retail sales force, or store closures. Last year, the company closed 50 stores in early phases of the operation.
