Walmart Starts Layoffs

Walmart Inc. (NYSE: WMT) has begun layoffs. This move is part of a plan to transfer people into larger central offices. However, it may not be the only reason for the move by America’s premier retailer.

Walmart Inc. (NYSE: WMT) has begun layoffs as it consolidates into larger central offices.

However, the decision will not affect the retailer’s bottom line.

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Many of the people who are affected will move to world headquarters in Bentonville Arkansas, according to Fox Business. This means offices in Atlanta, Dallas, and Toronto will be shuttered

Walmart Chief People Officer Donna Morris wrote to workers, “Through this review process, we have eliminated some roles as we streamline how we work.” She also said the move was made to encourage “shared understanding” and “people working together in person.”

Unlike many layoffs, the decision will not affect the company’s bottom line. Walmart has 1.6 million workers in the United States and 4,606 stores. It says 90% of Americans live within 10 miles of one of its stores.

Walmart’s most recently posted financials showed e-commerce growth up 27%. Revenue rose 5.5% to $169.6 billion, while per-share earnings came in at $0.58. Its stock is up 78% in the past year, compared to a 22% gain for the S&P 500.

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