Best Buy cuts 5,000 jobs even as sales soared during pandemic
NEW YORK (AP) — Best Buy said Thursday that it laid off 5,000 full-time store workers earlier this month, even as the company’s sales soared during the pandemic as homebound people bought laptops, TVs and other gadgets.
The company said it cut the jobs because more shoppers are choosing to buy online instead of coming inside its stores.
Best Buy said it will replace the 5,000 full-time employees with 2,000 part-time workers.
Best Buy’s workforce has shrunk in the last year after having to furlough workers when it closed stores during the pandemic.
It currently has more than 100,000 workers, down by 21,000, or 17%, from the year before.
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