Best Buy Closing Stores-Is Sioux Falls Next?
As the corporate merry-go-round continues across the globe with jobs being eliminated, another big box outlet has decided they can run its business with fewer stores and even fewer employees.
Best Buy has issued a statement saying that 5,000 full-time jobs have been cut this month. According to BusinessInsider.com, Best Buy stock has slumped. Attributed to fourth-quarter revenue that fell short of Wall Street's target. As of 1:00 PM CT, BBY was down 11.11 at $102.57.
The retail giant will be shuttering five stores across the U.S. Sioux Falls is NOT on the list. Stores closing include Syracuse, N.Y., Carbondale, Illinois, Brockton, Massachusetts, and two in Richmond, Virginia.
In cutting their full-time workforce, Best Buy will now hire 2,000 part-time workers.
If you were in the Sioux Falls store around Christmas time you could see the lack of traffic. And when I visited the 41st Street location earlier this month it was challenging to find someone to answer a Samsung question.
So many shoppers are buying online and that has resulted in a 17% cut in workers.