Some sad news for the world’s largest electronics store. The Best Buy Company is planning to close 50 of it’s U.S. stores.

This is to cut costs due to slower than expected sales at the end of 2011.

In a story from the Times Union, Best Buy operates two stores around the Albany area. On is in Crossgates Mall in Guilderland. The other is in Wilton, on Route 50, across from the Wilton Mall. It’s not known if these two stores will be closing.

While they’re going to close the big box stores, they’re planning to increase online sales and possibly open about 100 stores in smaller locations. In more cost cutting plans, Best Buy is also planning about 400 job cuts. Those jobs would be in corporate and support areas. It would also reduce the use of any outside consultants.

In my opinion, stores like Walmart and Target can offer almost the same products at lower prices. People are trying to find deals wherever they can. It’s sad to hear about businesses closing and people losing their jobs. I have to wonder if businesses closing and people losing jobs will ever stop. what are some other stores that have either gone out business in our area?