Thursday, 06 May 2021 01:50 GMT

Best Buy Canada shuts 66 stores, cuts 1.5k jobs

( MENAFN ) Best Buy Canada Ltd. announced that it decided to close 66 of the 131 Future Shop electronics chain stores and consolidated the rest in the country, Xinhua reported.

The decision became effective immediately. The remaining 65 Future Shop stores will be closed for consolidation and transition into the Best Buy brand and reopen for business one week later.

The reshuffle will lead to a loss of 1,500 jobs, including 500 full-time positions. After the consolidation, Best Buy will now have a total of 192 locations across Canada.

"Currently, 80 percent of our customers are within a 15 minute drive to a store. We will continue to have a strong store presence in all major markets in Canada," president and COO said.

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