Dive Summary:
- Best Buy has announced the closure of seven Best Buy stores and eight Future Shop stores across Canada leaving potentially 900 employees out of work.
- While the company is offering severance support and employee assistance, it was little consolation to employees that showed up for work at the Sherbrooke, Quebec location and were met with security guards and locked doors.
- Best Buy states the closures are the result of a long-term restructuring plan to lessen costs and and eliminate real estate but will open smaller kiosks and web stores to better serve customers and to avoid "showrooming."
From the article:
"...As part of a restructuring plan, the B.C.-based retailer announced the plan to 'optimize the company’s retail footprint' in a statement Thursday..."
