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Layoffs looming at Minnesota’s retail giants

Our experts and leaders warned us that things were going to get worse.

Here we go.

News reports are trickling out this afternoon that Minnesota’s retail behemoths Target and Best Buy are both preparing to lay off employees at their headquarters in Minneapolis and Richfield, respectively.

A Target spokeswoman has said the company started notifying employees this morning and would soon make a public announcement. The job cuts are expected at corporate headquarters and are said not to affect store employees.

At Best Buy, corporate employees were notified of the coming layoffs this morning in an e-mail, according to reports. The involuntary layoffs follow 500 voluntary buyouts, which apparently weren’t enough to get the company where it needs to be.

Says one Twitter user responding to the news:

It’s a bad day to be an employee in the state of MN!”

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