Posted on 01/11/2017 11:39:27 AM PST by aquila48
Walmart (WMT) , the country's largest private employer, plans to eliminate roughly 1,000 corporate jobs as it looks to boost its e-commerce business and trim costs.
The jobs, mainly in the human resources department, will be cut before Jan. 31, as a result of increased e-commerce spending and rising employee wages, an anonymous executive told the Wall Street Journal.
When contacted by TheStreet, Walmart declined in an email to comment on the job cuts but said the company has "not made any announcements" on its current corporate structure, adding "... we are always looking for ways to operate more efficiently and effectively."
The move comes after the Bentonville, Ark.-based company, which employs about 2.3 million worldwide, eliminated 7,000 positions in September.
Walmart's job cuts also come during an increasingly difficult period for retailers. Last Wednesday, Macy's (M) announced its plans to eliminate about 10,100 total positions as it moves to shutter 68 stores and restructure its operations, citing heightened e-commerce competition.
Macy's, Kohl's (KSS) and Sears Holdings (SHLD) are among several pressured retailers that experienced a decline in same-store sales this holiday season. Macy's and Kohl's comparable store sales each fell 2.1% year-over-year in November and December, while Sears' same-store sales dipped about 12%.
In a research note published Wednesday, Zacks' analysts reiterated the firm's "sell" rating on Walmart.
(Excerpt) Read more at thestreet.com ...
I forget, does this make leftists happy or sad? With the change of president, the definitions of words are reversing in meaning again making it doubly confusing
It’s too bad more retailers couldn’t weather the 0bama-Economy Chit Storm that has been raining down upon them for the past eight years.
Great legacy you’re leaving, Barky! You hurt Americans first and foremost in everything you did.
Good Riddance! *SPIT*
quote “and rising employee wages”
it seems raising their minimum wage wasn’t such a good idea.
This has been going on for awhile, there is an ongoing consolidation of resources which were duplicated in individual stores/region - such as the mentioned HR groups. I believe Finance was hit earlier.
>>it seems raising their minimum wage wasn’t such a good idea.<<
Hey the ones that didn’t get canned are thinking “hey, I got mine, the heck with you!”
Even though the left always says that is what rich people say (avoiding the fact the rich people say/think no such thing).
They gave a lot of cash to Hillary.
Makes me happy to see them take it in the ass.
Do they have greeters online?
Well....Walmart butters our bread, indirectly, along with the bread of every one of my friends. Whenever I see news like this I feel a little sick with fear thinking of who might have to move away this go round. ALL great people, regardless of what the board of directors does.
This area feels like the last sane place in America sometimes. Safe, prosperous and MASSIVELY Christian. I hate to see anyone have to leave.
No disposable income to sustain all the ‘service’ jobs
I don’t enjoy being around the third world filth that shops in that store
-—it seems raising their minimum wage wasn’t such a good idea.-—
Long term, it’s one of the best things they ever did...
One of WM greatest weakness are store level supervisors...
those are the people who control costs and productivity...
Their old school approach in hiring was bring in lots of people at a lowest cost and the cream will rise to to top simply no longer worked...
There pool of potential people to move up in the company was seriously weak because any decent person they had, left to get a better paying job and not put up with the idiots and sluggers they hired low cost...
They raised Mini Wage to attract a better quality hire and build a better supervisor team...
My wife works for WM and I can first hand tell you supervision at store level is or was atrocious...
I hope their plan works...
Yeah I guess $15 will GUT you 1,000!
It may be time to short Walmart.
They will suffer enormously if tariffs hit Chinese imports.
IMO online shopping is changing the dynamics in the retail outlet business. Look for growth in
areas that support or provide the mail/home delivery of goods.
“My wife works for WM and I can first hand tell you supervision at store level is or was atrocious...”
I have noticed.
Not surprising. HR pukes everywhere seem to hire only people who should never be in charge of anything, then they put them in charge.
Glad to hear WM is cutting HR. If they abolish it entirely, that could save them.
So will everybody else.
That’s a contention not in evidence.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.