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Job cuts hit Best Buy Europe worse than U.S. peers

Best Buy‘s (BBY) colleagues across the pond face worse layoff news than their stateside peers.

Best Buy Europe, a new joint venture between Best Buy and Carphone Warehouse, announced plans Thursday to cut 450 jobs, the Financial Times reports. That’s about 5 percent of the workforce at Best Buy Europe in the U.K.

Best Buy U.S.A. last week said it is shedding 250 jobs at its Richfield headquarters but posting another 210 new positions.

The European announcement was similarily buffered by news the company plans to recruit about 1,000 in the next 18 months as the company expands its retail presence.

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