Best Buy, one of the country's largest consumer electronics retailers, is laying off about 0.7 per cent of its workforce, estimated to be about 700 employees.
Anna LeGresley, a spokeswoman for Best Buy Canada, says the job losses come as the chain works to “support our stores and serve our customers.”It's unclear whether the restructuring includes any store closures.
At the end of fiscal 2022, Best Buy employed approximately 105,000 employees in the U.S. and Canada, according to the company's annual report. It said its workforce is about 55 per cent full-time employees, 35 per cent part-time employees and 10 per cent seasonal occasional employees. In a statement following the company's third-quarter earnings release in November, Best Buy CEO Corie Barry said it is “clearly a challenging environment for our industry.”
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