Best Buy Lays Off 5000 Workers, More Stores to Close

Best Buy Co., Inc., an American multinational consumer electronics retailer announced on Thursday that it had cut 5,000 employees despite increase in sales since people purchase gadgets due to work from home set up.

The company said that the laid off of workers happened because more shoppers are purchasing online than in the physical store. It also said that 2,000 part-time workers will replace the 5,000 full-time employees.

Company CEO Corie Barry said that 20 stores were closed in 2019 and 2020, CNN reported. It is also announced that planning to close some stores because consumers prefer online shopping.

In 2020, the number of workers of the company has decreased because Best Buy needed to furlough workers when it closed stores during the pandemic.

Best Buy will use the in-store space for home delivery orders.

About 21,000 workers were reduced or 17% from the year before. Currently, it has more than 100,000 workers. The company is retraining its workers to help with online orders. 

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