Electronics retailer Best Buy made a decision to lay off hundreds of employees across the U.S., with the cuts mostly affecting store jobs. The news was first reported by the Wall Street Journal and later confirmed by the company.
According to WSJ’s report, Best Buy made the decision to cut costs but also as part of its strategy to shift to an e-commerce type of business. The retailer experienced a decline in store sales since the end of the pandemic, with more consumers deciding to do their shopping online.
As part of job cuts, the company has eliminated some roles completely, including “consultants” who were tasked with helping customers with the purchases of more complex electronic products.
WSJ estimates that several hundreds of workers are out of the job at Best Buy, but the exact number is still unknown. Employees affected by the decision can reportedly apply for open positions with the company or opt to receive a severance payment.
“We’re evolving our stores and the experiences we offer to better reflect the changes in customer shopping behavior, as well as how we organize our teams to ensure we continue to provide our expertise, products, and services in the best way possible,” a spokeswoman for Best Buy told WSJ when reached for comment.