FOG BLOG BUSINESS LOG: BEST BUY DUE TO THE PANDEMIC ETC...LAYS OFF 5000 EMPLOYEES:

Best Buy announced Thursday that it laid off 5,000 full-time store employees this month despite seeing a rise in sales amid the coronavirus pandemic.

The tech business has experienced a surge in online business as more people are staying home and not visiting stores in person. According to the Associated Press, Best Buy will replace the laid-off full-time workers with 2,000 part-time workers.

Best Buy currently has more than 100,000 employees, which is down 21,000 or 17 percent from the year before.

"In addition to our physical stores, our operating model needs to evolve to meet our customers' changing shopping behaviors that have been accelerated by the pandemic," CEO Corie Barry during the company's quarterly earnings call on Thursday, according to USA Today.