Best Buy Lays Off 5,000 Workers, Will Close More Stores

Best Buy Lays Off 5,000 Workers, Will Close More Stores

The news comes at a time when big chains face growing competition from Amazon and other sites that sell items like TVs and laptops. Fry's Electronics said Wednesday that it would abruptly close all of its stores overnight, ending nearly four-decades in business. Best Buy expects 40% of its sales to come from online purchases this year, up from 19% two years ago, and the company said it needed to alter its workforce in response to this shift. CEO Corie Barry told analysts Thursday that starting earlier this month, Best Buy had been adjusting the mix of full-time and part-time employees in stores, due to "having too many full-time and not enough part-time employees." As a result of this reorganization, Best Buy laid off 5,000 employees, the majority of whom worked full-time. It also said it is adding approximately 2,000 new part-time positions. Best Buy has around 102,000 employees.

 

I'm not sure what can be done about this other than putting a restriction on online business stuff.

 

Stores need to be more like Ikea, 1-3 locations per state. Maybe not that drastic but become super centers that actually allow you to go home with a product vs going to the store just for them to be like “we don’t have it but we can have it shipped to you”

I could’ve just ordered it in the first place

 

This better lead to more ps5 becoming available

 

15 an hour will stop this

 

Universal Basic Income

 

Amazon needs to be hit with some major antitrust suits and broken up, but in the long run I don't see how stores like Best Buy survive anyway. Online shyt is just too convenient.

 

Why are you upset? This is just capitalism invisible hand smiting the poor again, no?

 

They pay less than a living wage... so they don’t deserve to be in business anyway.
#badbusinessmodel

 

Exactly. We need to accept that some change is inevitable.

 

Best Buy is doing well to even exist in 2021

There's literally no reason to go to Best Buy unless you just like window shopping. Otherwise you can just hit up Amazon for cheaper prices, a larger selection of products, and have them delivered to you in a day.

 

I haven’t bought anything from a brick and mortar Best Buy in 10 years.

 

not sure how breaking up Amazon keeps brick & mortar retail in business. 1, Amazon the ecomm platform would still be a whole entity (cloud may spin out, maybe even grocery) 2) pretty much every type of store, minus home improvement, grocery & pharma, has seen their sales shift online

 

Perhaps you need to read what I said again if you think you're disagreeing with me.