Best Buy store

Best Buy is set to cut 400 corporate jobs at its headquarters based in Minneapolis, Minn.

According to a company spokesperson speaking with Reuters, of the 8,000 people Best Buy currently employs in and around its Minn. headquarters, 400 of them will soon be cut to reduce costs. The move is expected to save the company around $150 million in expenses, most of which will come from non-salary expenses.

This is the latest move by Best Buy CEO Hubert Joly that announced in Nov. of last year that he had a plan to reduce costs by $725 million over time.

No word as of yet when exactly these cuts will take place, or high up the corporate ladder they reach.