Best Buy will lay off 5,000 mostly full-time employees and hire 2,000 part-time workers, including offering jobs to many of those being let go. The retailer is seeking to be “more responsive and flexible as we continue to refine our operating model going forward in response to the incredibly rapid change and how customers want to shop with us,” said CEO Corie Barry during an earnings call.
The retailer has been pushing to make its stores more flexible during the pandemic, including the December 2020 move when Best Buy launched a four-store pilot in Minneapolis that reduced shoppable areas so the stores could better operate as fulfillment hubs. Efforts also include training employees in a variety of roles to help them manage multiple tasks, such as fulfilling curbside orders, taking support calls or being a virtual expert on the Best Buy app.
“It is important to add that we are intent on rescaling and retraining employees wherever possible, so we can retain our people and employees can flexibly work across all our channels,” said Barry during the call. The digital emphasis also means Best Buy is hiring in supply chain, parcel delivery, customer care and technology support.
Best Buy’s online sales rose 144.4% in fiscal 2020, well above the 17% growth experienced in 2019. The retailer fulfills nearly two-thirds of online sales through buy online, pick up in-store, curbside pickup and ship-from-store, making flexibility at physical locations paramount.
Advertisement
