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Martin Moylan
St. Paul, Minn.

Best Buy cuts 250 jobs, adds 210

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Best Buy
A Best Buy sign is displayed on the exterior of a Best Buy store.
Justin Sullivan/Getty Images

Richfield-based Best Buy is handing out 250 pink slips today to employees. But it's also posting 210 new positions. The company says the net effect will be the loss of 40 jobs.

Spokeswoman Susan Busch said the company hopes people being laid off will fill the new jobs.

Busch said the net job loss was limited because of the success of an earlier voluntary buyout program, where 500 employees accepted voluntary buyouts last month.

With the buyout and job cuts, Best Buy will still employ about 3,400 people at its Richfield headquarters.

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Best Buy
A Best Buy sign is displayed on the exterior of a Best Buy store.
Justin Sullivan/Getty Images