Christmas is nearly upon us, and with the recent economic problems it looks to be bleak for some. Nearly everyone is feeling the strain of the economy, and electronics giant Best Buy is no different.

Earnings for the third quarter this year have drastically fallen from last year’s earnings. In Q3 of 2008, Best Buy made $52 million, compared to $228 million. It’s crazy how much can happen in a year. That drop off is hovering at 77%.

The latest numbers have led to drastic measures from Best Buy. They are allowing voluntary buyouts to the 4,000 corporate employees working for them. After awhile, if the buyouts aren’t taken then layoffs would have to occur.

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