Despite Online Growth, Canada’s Biggest Electronics Retailer Sheds 950 Full-time Employees

Best Buy Canada is laying off nearly 1,000 full-time employees during a period of renewed struggle.

The country’s largest electronics retailer says the layoffs will affect Best Buy and Future Shop stores across Canada as part of an ongoing effort to “streamline its store operating model as part of the company’s long-term growth strategy.”

“We have been focusing on simplifying our store structure and increasing efficiencies to better align with the changing needs of our customers,” says Ron Wilson, COO of Best Buy Canada.

“We have seen our online sales grow by more than 50 percent in the past year and new services such as in-store reserve and pick up more than doubling,” he continued. “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. ”

As part of the restructuring announced today Best Buy Canada will be consolidating sales departments and reducing management layers in Future Shop and Best Buy stores.

“Decisions that impact our people are never easy and we make them with our customers, employees and corporate values in mind,” added Wilson. “I want to express my appreciation to all of our employees who are leaving for the contributions they have made to Best Buy Canada.”

Initiatives the company has undertaken as part of its Canadian growth strategy include opening 176 “Stores-within-a-Store” concepts, working with vendor partners including Microsoft and Samsung; opening six new Best Buy Mobile locations and moving forward with plans to open two new Future Shop locations; and ehancing in-store Reserve and Pickup services, according to the company.

No stores are currently planned to close as a result of the layoffs.