Bell to close The Source headquarters, lay off employees following Best Buy Express rebrand

In the wake of Bell rebranding The Source to Best Buy Express, MobileSyrup has learned there will be layoffs at the Québec-based telecom’s retail chain.

According to a tipster, Bell told its employees it will wind down head office and back office operations for The Source and close some stores.

The tipster estimates Bell will lay off roughly 1,000 employees between closing more than 107 stores and shuttering operations at the Barrie, Ontario head office.

A Bell spokesperson confirmed to MobileSyrup that it was winding down operations at The Source headquarters:

“We’re transitioning 165 The Source stores to Best Buy Express, with the remainder closing in 2024. As part of this transition, Bell is winding down operations at The Source headquarters in Barrie, which will happen in phases over the next several months.”

While the original Best Buy Express report indicated that Bell will only transition 165 out of its more than 300 stores, it’s interesting to learn that the company will also wind down The Source’s head office. It’s also worth noting the timing of the news, coming just on the heels of Bell’s 2024 Let’s Talk Day. The company has a penchant for doing layoffs around its annual mental health event.

In 2009, Bell acquired The Source for an undisclosed sum. The retailer had around 750 stores at the time.

Update 08/02/2024 at 9am ET: Bell now says it’s closing 107 stores, not 135 stores, as MobileSyrup first reported. The number has been updated in the story and MobileSyrup is seeking additional information about the number of stores closing or transitioning to Best Buy Express.

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