Some 1,500 Canadians are out of jobs after Future Shops across the country shut their doors Saturday as the company consolidates its operations with Best Buy.

The retailer said it will close 66 of its Future Shop brand stores in Canada and convert 65 of them to Best Buy brand stores.

"That means, the products, services, and features you have come to expect from FutureShop.ca can be found at BestBuy.ca,” the company said in a statement.

About 500 full-time and 1,000 part-time positions will be eliminated as a result of the consolidation, Best Buy Canada said, adding that "the affected employees will receive severance, employee assistance and outplacement support."

At the Future Shop location in Toronto’s downtown, workers inside the store were taping brown sheets of paper over the entrance-way glass. A sign stated that the store is "Permanently Closed."

One employee told QMI Agency he was told to collect his things, was given details around severance, and informed he was no longer an employee.

Dale Schell wanted to buy two storage devices for his computer from the Future Shop store in Sault Ste. Marie, Ont., Saturday morning.

“Hopefully it reopens as something,” he told QMI Agency outside the main entrance.

“We don’t have any electronics stores in this city that offer the prices and the selection Future Shop offers. Other than the furniture stores, there’s nowhere else to buy electronics.”

Two Winnipeg Future Shops are shuttered for good, with a third to reopened as a Best Buy.

In Winnipeg, Janelle Charriere, a Red River College accounting student, said she got a text from friends still on the job that everyone had been let go Saturday morning, just before stores were due to open at 10 a.m.

Best Buy Canada said that 66 Future Shop locations would be shut immediately, and that "65 Future Shop stores will be temporarily closed for one week as they begin their transition to the Best Buy brand.”

"The company will now have a total of 192 locations across Canada, including 136 large-format stores and 56 Best Buy Mobile stores," the statement said.

Best Buy also said it plans to spend $200 million to improve its online operations in Canada, increase staffing at remaining stores, and launch a range of home appliances, among other initiatives.

The largest U.S. electronics retailer expects these changes to cut earnings per share by 10 cents to 20 cents in the current year. That is up to 8% of the average analyst estimate for fiscal 2016 earnings per share of $2.56, according to Thomson Reuters StarMine.

Analysts said the consolidation made sense as Best Buy and Future Shop often offered similar promotions and products. Some of their stores were so close to each other that they shared parking spaces.

"We believe the long-term benefits of the store closings will more than offset the short-term costs," said Moody’s vice-president Charlie O’Shea.

Best Buy Canada says all Future Shop gift cards will be accepted at any Best Buy Canada location and at BestBuy.ca.

Existing product orders, service appointments and warranties will continue to be honoured and Future Shop purchases to be returned or exchanged will also be accepted at any Best Buy.

— With files from Reuters, Terry Davidson and Brian Kelly