Best Buy said they laid off 5,000 workers this month and are planning to close more stores this year as more consumers buy electronics online.
Best Buy expects 40% of its sales to come from online purchases this year, up from 19% two years ago, and they said it needed to alter its workforce in response to this shift.
Earlier this month, the retailer had been adjusting the mix of full-time and part-time employees in stores, due to "having too many full-time and not enough part-time employees." As a result of this reorganization, Best Buy laid off 5,000 employees, the majority of whom worked full-time.
They are also adding approximately 2,000 new part-time positions.
Best Buy also closed 2 stores in each of the past two years and expects to close a higher number this year.
They also plan to use more of its in-store space to fulfill home delivery orders.
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