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As Michael points out, those 1,500 people that Wal Mart is getting rid of are workers at the HQ in Bentonville.
That's 10% of the folks working there.
That IS a pretty big layoff. I was going from a headline and couldn't see the rest of the story thanks to a paywall... Then I snarked without looking for another source.
But I don't really think the sky is falling.
Wal Mart has been clipping the top levels for a while, especially in San Franciso and Newark. Consolidating back to the home HQ in Arkansas.
Those reductions were happening before the bond market started giving the signals he pointed out in the, regrettably, deleted for going off on a tangent comment.
Michael! THIS POST is your chance to re-submit that tangent! Because it was actually a decent comment, I just have had to get brutal about enforcing my commenting rules thanks to the host of dickheads I talked about last week.
Sorry not interested in doing that research and typing it again.
ReplyDeleteHere is an article with some details that isn't paywalled:
ReplyDeletehttps://www.fastcompany.com/91339414/walmart-layoffs-today-corporate-job-loses-technological-change-memo
They say the layoffs are at regional offices, not just the HQ. I'd be curious to see more details - for example, why are they laying off IT people when they are pushing to be more digital and more online?
Jonathan