Best Buy to Cut Jobs in February

Employees were told on Tuesday about the layoffs and further details will be released on February 19, Best Buy spokeswoman Sue Busch Nehring said in an email.

No information has been shared about the number of jobs or positions that will be affected in the headquarters layoffs, she added.

On Wednesday, the tally of U.S. layoffs in December was to be released by the Bureau of Labor Statistics. Already, the bureau says, the U.S. economy has shed at least 2.55 million jobs since the recession began, pushing the U.S. unemployment rate to 7.2 percent last month. Workers from Britain to China have also been losing jobs.

"The economy is deteriorating at a faster clip than even the most dreary forecasts had expected," said Joseph Brusuelas, an economist who, bucking the job market trend, will soon start working at Moody's Economy.com.