"Termination Tuesdays" are when Best Buy employees worry about getting laid off
|The number of employees working at Best Buy's headquarters has fallen from 9,000 at its peak to about 5,000, the Strib reports.|
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Best Buy's February announcement that it'd be laying off 400 employees didn't mean the remaining employees were in the clear, as throughout the year, smaller groups of employees have been getting laid off -- typically on Tuesdays.
In fact, according to a Star Tribune report, employees have taken to calling Tuesdays "Tornado Tuesdays" or "Termination Tuesdays."
"Whenever someone leaves their desk, we think that person just got laid off, when he or she might just be going to the bathroom," one unnamed employee told the Strib.
As part of the restructuring taking place in the wake of the disaster that was former CEO Brian Dunn's tenure, the company announced plans to cut $700 million in costs. According to the Strib, execs have so far trimmed about $300 million, with that number growing as the company lays off employees in groups ranging from single digits to up to 25.
While "Termination Tuesdays" makes Best Buy a more stressful place to work and certainly doesn't boost employee morale, one of the benefits of laying off employees in small groups is that it allows Best Buy to avoid the negative publicity companies receive when they lay off hundreds of workers at once.
Last month, Time, citing Best Buy's impressive stock performance this year, proclaimed that the company is back from the dead. That's good news for investors and execs, but not necessarily for the corporate rank-and-file -- especially on Tuesdays.
-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at email@example.com.