Best Buy Co. BBY is slashing hundreds of jobs around the nation, the Wall Street Journal reported Friday. The Journal, citing unnamed sources, said the cuts affect consultants who specialize in selling smartphones and computers. In response, the company told the Journal that it is “evolving” its stores. The job cuts follow other cost-cutting moves by the retailer over the past couple of years as it adjusts to changing consumer habits. Last month, Best Buy Chief Executive Corie Barry said during the company’s earnings call that the company was bracing for another “down year” for the consumer-electronics industry.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.