Best Buy announced Saturday that it was closing its Canadian electronics Future Shop stores and cutting some 1,500 jobs, though half the locations will reopen under the American retailer's banner. Closures across Future Shop's 131 stores went into effect Saturday, with 65 of the locations slated to reopen in a week after transitioning into a Best Buy, the US-based mega retailer said.
Employees and customers took to social media, posting the blue-and -yellow Best Buy signs emblazoned across Future Shop doors.
Best Buy said the measure would cut around 500 full-time and 1,000 part-time jobs. The changes will require an investment of around Can$200 million (US $158.5 million) as well as restructuring-associated costs of Can$250-$350 million.
Following the reshuffle, Best Buy will have 192 locations across Canada - 136 large retail stores and 56 Best Buy Mobile locations.
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