Posted on 06/17/2016 6:37:38 AM PDT by Lorianne
Walmart reported relatively decent Q1 results, however one item that was apparent is that costs are still a factor in the business, as operating income was lower y/y even on increased revenues.
We've discussed many times the fact that Walmart has been overly eager to boost everyone's wage in order to appease the living wage crowd, and as a result the company has had to move forward with massive layoffs and store closings to try and mitigate the impact on profits. Earlier this month we also noted that Walmart is testing out drones that when operational, will be able to carry out what once were human tasks in its large distribution centers. This effort will further position the company to be able to shed more labor and benefit expense in the future. That said, Walmart isn't waiting for the drone initiative to come online.
The company recently announced that the accounting function at roughly 500 stores, mostly on the West Coast, will be eliminated and the job responsibilities will be handled by a shared service center at Walmart's Bentonville, Arkansas headquarters the WSJ reports. The function was used to count cash, as well as handle invoicing for companies that bring product directly to the store instead of the warehouse.
Invoicing will move to Bentonville, and machines will now be used to count the cash at each location. Mark Ibbotson, executive VP for central operations at Walmart US said the current system is dated and error-prone, "we really want to pull our workforce onto the floor" - yes, or reduce headcount and labor costs, one of the two.
(Excerpt) Read more at zerohedge.com ...
Just building the constituency to elect Socialists in 2020.
Bernie came close this time. Next time puts them over the top.
Just follow the yellow brick road.
The problem is brain-dead liberals have twisted math logic. They think that 0 jobs X $15.00 is a bigger number than 1 job X $10.00. You’d think that the mind-numbed robots who support 0bama would understand the concept of “zero”.
Constant government meddling, regulating, social engineering, and political correctness are curses on our country and the people.
The French Revolution was not a bad thing!
“Mark Ibbotson, executive VP for central operations at Walmart US said the current system is dated and error-prone, “we really want to pull our workforce onto the floor” - yes, or reduce headcount and labor costs, one of the two.”
Quick! Someone get a bucket of water, his pants are on fire!
...corporate BS aside, Wal-Mart had better be prepared for a rash of theft when they replace cashiers with automated checkout. I have fooled them on ACCIDENT and Wal-Mart suits are deliberately squashing employees trying to warn how laughably easy it is to walk out with unpaid stuff. Store managers are panicking at how liable they’re gonna be.
A local chain grocery store has hand held scanners so you can scan and bag your groceries in the aisles then pay. All without a cashier ever touching one item in theory. Of course they deny this causes massive amounts of thefts and blame the employees and store managers for the loss.
The last I heard Walmart won’t prosecute shoplifters.
I’m only mildly surprised at hearing that. Considering the quality of customers that frequent their stores, I often wondered why the cops didn’t have an outpost right at the store much less why they weren’t hauling someone off every other hour.
Word is that unless you repeatedly rip off the same location or make a big scene in the process (set off alarms, run from security) they rarely bother unless you sneak off with something in a locked case like booze or cigs. They do still watch the electronics department like a hawk because everyone and their cousin would walk off with a grand in gear if they could.
I often wondered why the cops didn’t have an outpost right at the store much less why they weren’t hauling someone off every other hour.
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At the W-M nearest me, about 5 or 6 miles, they have exactly that. When they built the store, they included a police office near the entrance.
And in the end, wally world will go to 23 hour days and for that hour people will stand outside and look through the glass in amazement at the precision and speed at which the bots clean the store and stock the shelves.
>>I often wondered why the cops didn’t have an outpost right at the store much less why they weren’t hauling someone off every other hour.
While ours don’t have the former, the latter isn’t far off. The local store is big on security, and works closely with our local PD.
however, good people shop there....so I don't understand your "quality of customers" comment...
lots of solid working citizens go there and why shouldn't they if they can buy things cheaper....
Avoid going to Wally world during the first few days of the week when EBT cards are reloaded unless you want to see the dregs spilling over the sides of rascals with carts full of steaks and ultra 4k TVs.
I’ve talked to the younger cashier’s and most are having their # of days cut, until they are forced to look for work elsewhere...OBAMACARE is the big reason that we are at a PT work standard. Add in drugs, prison time, lack of work ethic, can’t find a sitter, sick kids, etc and you see the bigger picture.
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