Downturn in retail store shopping?
Best Buy Canada, which also owns Future Shop, has laid off 950 full-time employees across the country, including right here at home.
According to a Best Buy Kelowna employee, who asked not to be identified, seven people were let go from their store and another 18 from the local Future Shop store.
The employee says all positions that were cut were in management and cuts were made only in BC and Quebec.
The electronics retailer has said the job cuts would be coming as the company reworks its operations to reduce layers of management and combine some of its sales departments.
A reason that was also given to the Kelowna employee.
The current staffer told Castanet that staff also believe Best Buy Canada is moving from a storefront focus to an online sales focus.
This concept is supported by nothing but bad in-store sales over the Christmas season and a continual downtrend of sales over the holidays for the last few years.
Those that were let go from the giant retailer are keeping quiet and its believed they were required to sign a non-disclosure agreement to get their full severance package.
Best Buy insists the changes will not include any store closures, however locals may remember the brand new Future Shop in West Kelowna that opened in Oct 2011 only lasted 16 months.
Retailers have been grappling with a number of new competitors in Canada over the past year, including the arrival of Target and a more aggressive rollout of Walmart Supercentres.
The company has 265 locations across the country, which include its Best Buy Mobile and Future Shop brands.
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