Best Buy Laid Off 5,000 Employees in Response to the Online Shopping Boom

Fry’s Electronics wasn’t the only electronics retailer affected by COVID-19. The Wall Street Journal reported

Fry’s Electronics wasn’t the only electronics retailer affected by COVID-19. The Wall Street Journal reported Thursday that Best Buy laid off 5,000 employees of its 102,000 employees in response to the pandemic-hastened rise of online shopping.

Best Buy CEO Corie Barry said in an earnings report that “online sales grew almost 90{2f36692215c92488191f15c49f485bc8da437d4cca01014075d40c79880301cc} to a record $6.7 billion and made up 43{2f36692215c92488191f15c49f485bc8da437d4cca01014075d40c79880301cc} of our total Domestic sales” in the 13-week fourth quarter of 2021 that ended on January 30.