Best Buy move not surprising

World of electronics and big business uncertain, especially for employees

Last week’s closure of Future Shop stores across Canada, including the Langford and Saanich locations, came somewhat out of the blue for most area customers of the popular electronics retailer.

And the fact parent company Best Buy Canada has chosen to rebrand 65 of its 131 Future Shop stores in this country as Best Buy – including the two Greater Victoria stores – might sound a little confusing, especially since it closed its Best Buy stores in this area some time back.

Chalk it all up to the topsy-turvy, shareholder return-driven world of corporate America.

Needing to improve its bottom line, Best Buy, which purchased Vancouver-based Future Shop in 2001, shaved 950 full-time Canadian employees from its payroll at the two brands in early 2014. Like many mega-corporations today, it’s all about return on investment, and the people on the front lines are the ones who pay the price for downsizing.

Luckily, employees at the Langford and Saanich stores were spared the permanent axe and will continue to collect their paycheques, albeit with an interruption of about a week or so. Both stores appear to be doing well, especially since the closure of Best Buy stores, their largest competitor, in January 2013.

We appreciate the fact that Greater Victoria customers who purchased items from Future Shop will have their warranties honoured by Best Buy, but that doesn’t guarantee job security for the workers.

While the trend is toward more purchases being made online – even for Best Buy – not everyone likes to shop without the experience of being able to pick up a product and see how it feels.

Whether this rather major industry hiccup is a foretelling of the future of electronics retailing on the West Shore and beyond is anyone’s guess. Area residents may remember the short lifespan in Langford of former home electronics giant A & B Sound.

We just hope that Best Buy employees start to look at a Plan B before too long, in case the worst comes sooner than later.

Just Posted

Langford trucks vandalized for third time in five months

Staff member spends weekend washing after six trucks hit with graffiti

Oak Bay dog walk benefits guide dogs

Two more walks set for Sunday in Victoria and Colwood

Police stay quiet on downtown fire investigation

The fire at Victoria’s Plaza Hotel was deemed suspicious on May 14

Former Saanich councillor joins Cordova Bay community association board

Leif Wergeland served on Saanich council for 22 years before retiring from politics in 2018

Coastline serves up a feast of fiddlers in Oak Bay

Local Juno Award winner musical director for ensemble

Rescuers finally persuade Eiffel Tower climber to come down

The official said the man was ‘under control and out of danger’ on Monday night

Greater Victoria wanted list for the week of May 21

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Were you satisfied with the Game of Thrones series finale?

Millions gathered in front of their televisions Sunday night to watch the… Continue reading

Young man on Vancouver Island dies after losing control of ATV

Crash claimed the life of a 23-year-old south of Nanaimo over the long weekend

Baby boom seniors putting pressure on B.C. long-term care: report

B.C. leads Canada in growth of dementia, dependence on care

RCMP probe if teen was intentionally hit with ski pole by mystery skier on B.C. mountain

The incident happened on March 20 on Grouse Mountain. Police are urging witnesses to come forward

B.C. firefighters rescue frozen dog from ice

The fire crew found a dog stuck in the at Lake Paul on May 20

Most British Columbians agree the ‘big one’ is coming, but only 50% are prepared

Only 46 per cent of British Columbians have prepared an emergency kit with supplies they might need

B.C. man to pay Maxime Bernier’s People’s Party $20k over lawsuit

Federal judge shut down Satinder Dhillon’s ‘nonsensical’ motion to bar use of PPC name in byelection

Most Read