Best Buy Canada cuts 950 jobs as part of an effort to thin management
Thursday, Jan 30, 2014 11:45 am
TORONTO - Best Buy Canada is laying off about 950 full-time employees as the company reworks its operations to reduce layers of management and combines some of its sales departments.
The electronics retailer said Thursday that the job cuts will affect both its Best Buy and Future Shop stores across Canada.
Best Buy says the changes do not include any store closures.
Retailers have been grappling with a number of new competitors in Canada over the past year, including the arrival of Target and a more aggressive rollout of Walmart supercentres.
Best Buy has also spent more effort on boosting sales through its websites.
"We have seen our online sales grow by more than 50 per cent in the past year and new services, such as in-store reserve and pickup, more than doubling," said Best Buy Canada president Ron Wilson in a release.
"These changes in the way our customers are interacting with us have led us to look at how to best deploy our staff to meet those evolving needs."
Best Buy Canada operates 265 locations across the country, which include its Best Buy Mobile and Future Shop brands.