Wal-Mart To Cut "Hundreds" More Jobs Before End-January

Tyler Durden's picture

Despite the proclamations from The White House and its lackeys that this is the best jobs recovery ever and we are at full employment, it appears all is not well at the world's third largest employer.

We've discussed many times the fact that Walmart had been overly eager to boost everyone's wage in order to appease the living wage crowd, and as a result the company had to move forward with massive layoffs and store closings to try and mitigate the impact on profits. Earlier last year 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.

After firing 7,000 in September, The Wall Street Journal reports, Wal-Mart is preparing another round of job cuts at its headquarters before the end of the month, according to people familiar with the situation.

The world’s biggest retailer plans to eliminate hundreds of jobs before the end of its fiscal year on Jan. 31, both at headquarters and regional personnel that supports stores, these people said. Many of the eliminations will affect Wal-Mart’s human resources department, a large team that some senior executives believe should be more efficient or whose duties could be handled by outside consultants, said these people. Other departments could be affected as well, say these people.

 

“We are always looking for ways to operate more efficiently and effectively,” said Wal-Mart spokesman Greg Hitt. “While we continually look at our corporate structure, we have not made any announcements.”

 

Other retailers have recently moved to slash jobs and close stores as they battle sluggish sales and try to save money to invest in their e-commerce efforts. Last week, Macy’s Inc. said it would close stores, cutting 10,000 jobs and streamlining operations.

 

Wal-Mart closed more than 150 U.S. stores last January, then in October said new-store openings would slow, but hasn’t announced plans for another round of large-scale closures.

Shareholders also appear unimpressed...

So much for that minimum-wage PR-stunt, but at least the Walmart Greeter has returned...

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bankbob's picture

There have got to be hundreds of WalMart employees who should be fired for cause.  

Shocker's picture

Maybe worried about imports being cut.. or prices raising.

Time to bring back American jobs / products

We need more winning - http://www.dailyjobfix.com

-

NoDebt's picture

Jeff Bezos is reading this article and thinking "I'm glad I won't need any employees soon."

 

peddling-fiction's picture

*Robots and drones whirring*

*maniacal laughter heard*

InjectTheVenom's picture

 

this news is bullish for the market, right ?

Never One Roach's picture

Seeing that Jack Ma met with Trump and will be creating 1 million jobs in the USA, my guess is Amazon is going to have some BIG competition soon.

FireBrander's picture

Walmart is SERIOUSLY upping its game around here...the store is CLEAN, remodeled, and the brain dead employees have been replaced with fairly "normal" people...and in the grocery section there are stocking EVERY thing imaginable...super hard to find products that I normally have to hit a specialty store for...Caputo Flour imported from Italy...NO BETTER ON THE PLANET...on the shelf at Walmart for $3.33 a bag! 1/3 the price of the specialty stores!

Walmart means business..hard to believe...but I see it with my own eyes...they are going after Whole Foods and the like.

RedBaron616's picture

Must be a test concept. The rest of the Walmarts in America suck. Employees hard to find and totally clueless. Slow checkout lines. I go elsewhere as much as possible.

Rubicon727's picture

Dear "FireBrander;"

Sorry to burst your bubble, but there's a reason Walmart sells "Caputo Flour" at such a cheap price.

If you look into the small details of this "family-owned" operation, you'll observe some the wheat (what's the %age?)  comes from "Manitoba." That IS an area in Canada which translates to Monsanto, glysophates and all sorts of other pesticides/herbicides that are used in many areas of Canada's agriculture.

 

The same thing happened to me when I paid $20.00 for a bottle of Italian olive oil. I started looking at the details and went online. Sure enough - fake - it was made in California - Monsanto, herbicides/pesticides running amuck.

 

Stick with DeCecco pasta or any Italian product that clearly identifies as an authentic Italian product - which are very few; unfortunately.

xythras's picture
xythras (not verified) NoDebt Jan 10, 2017 1:34 PM

8 years from now:

- What's a Wal-Mart again?

-Something that went extinct under Trump empire !

ejmoosa's picture

Raised wages, which forced job cuts.

 

WalMart has one of the lowest profit margins of those in retail earning a profit.  Expect more cuts going forward.

 

corporatewhore's picture

I love the term "lackey".

Can we also add terms of endearment like "running dog", "hegemony", etc.---stuff we used to hear from Mao etc.

Kayman's picture

Biggest seller of Chinese crap in America. Biggest reason living wage jobs in retail and manufacturing in the USA don't exist.  Biggest under-the-table investor in the Clinton "sell out America" IPO.

ne14truth's picture

Sorry, Amazon is the largest supplier of Chinese crap, Wallmar is #2 but it is way behind Amazon.

Son of Loki's picture

However, the Walmart parking lot is nearly the best possible place to get mugged or shot to death from what I have read. Even Walmart employees went on strike protesting for 24/7 police protection in the store and parking lot.

But we should all cheer since the media reports "everything is awesome!"

DirkDiggler11's picture

With Amazon's help you even get your Chi-Com Shit Shipped direct from China to your front door via your post office, subsidized by your taxpayer dollars.

Told my wife if she orders anything from Amazon I would start remodeling her closet with my Saw-Saw. Not a package has arrived since...

corporatewhore's picture

I know there are lots of people who avoid shopping at Walmart like the plague.

Last time several years ago I was in the check out lane at Walmart and the "lady" in front of me is returning some items without a receipt.  I hear "Give me my money, bitch" and thought I needed to hit the floor or run.

Son of Loki's picture

Unless they drastically change their business model they will extinct themselves like MSM is doing.

Bobbyrib's picture

That is why people pay extra to go to Target.

shimmy's picture

Yes, all Wal-mart and nothing to do with all the people who decided to go shop at Wal-mart and who want all that "Chinese crap" you speak of.

I love how so many people love to pass ANY responsibility for how things have gone onto the average person. Just blame the corporations, blame the politicians.

Talk about being deluded but I guess what I expect in today's world where nobody ever wants to take any responsibility for anything.

KuriousKat's picture

I remember that  running lacky dogs..They use to come up with some wild ones.

business as stusual's picture

If my recollection is correct, running dog must always be prefaced with capitalist.

J Pancreas's picture

Does that Walmart greeter's badge say Christy?

small axe's picture

maybe they can get jobs at Amazon as drone delivery pilots

NoDebt's picture

Automated drones.  Sorry.

 

ajkreider's picture

Is this where ZH is at now?  We must be in a bad job environment because a few hundred people get laid off?  Seriously?

Mikeyy's picture

In case you hadn't noticed, ZH has always been like this.  Notice how Tyler blames the current administration for the problems at Wal Mart?

 

It's an appeal to the Fox news set...

Atomizer's picture

Isn't it time to get your EBT card issued with taxpayer welfare credits? We are planning on defunding that budget. Maybe you can work at Walmart and feather dust the glass scanner for a couple hours a day.  

rwe2late's picture

 read the article

7000 laid off in September, more to be added now.

Walmart has been the expansion leader for some time, but the tide appears to be turning.

Further, there is a question about whether Walmart will be able to continue  profiting as much by its foreign suppliers. Also, a question about the impact of the minimum wage level in US.

Think bigger. Is this indicative of a bigger trend in the retail business and even the general economy?

Bobbyrib's picture

They're a victim of their own past success. They helped gut our economy via outsourcing and now people lack funds to buy the Chinese crap they sell.

WillyGroper's picture

afraid it's more femafacilities for us.

would be reassuring if they were for "them."

wikileaks 2017.

Rainman's picture

WallyMart is a favorite for thieves, losing $3 Billion to shoplifters every year....more than the value of JCPenney. 

StagStopa's picture

Walmart "asset protection "(security) a total joke. 2 people to watch a huge supercenter 24/7. And they spend their time watching the employees, not shoplifters.

Negros: pick up a receipt blowing around the filthy parking lot, go in and get everything on it. Nothing they can do.

Son of Loki's picture

Ever since they refused to sell un-pc stuff [like the Confederate Flag], their sales have plummeted. I guess not enough Hollaywood millionaires and Hunter College professors are buying those Al Sharpton action figurines and Meryl Streep greatest hits movie collection

 

So sad.

moonmac's picture

If you like your low wage dead end job you can keep it. If you don't there's another one 2 minutes away at the next strip mall, shopping center or fast food joint.  

Atomizer's picture

They're targeting self check out lines to reduce overhead. I simply find a store that employees human beings. Shooting themselves in the foot again. Oh well!

wisebastard's picture

the wall mart near me just got self check outs......that will cost some jobs.....

corporatewhore's picture

even better for the five finger discount!

CoastalCowboy's picture

They should put a hard 12 item limit on self checkout.  The scootered landwhales with a month's worth of GMO crap make self check WAY less efficient.

Inconsequential's picture

Ive never used one of those yet. 

Frodobaggins's picture

I remember hearing somewhere that Walmart was China's 5th largest trading partner.

DirkDiggler11's picture

Sam Walton would go on a killing spree if he saw what these fucks and his liberal ass grandchildren have done to his company.

Atomizer's picture

I always keep my eye on what the futurist are up to. Lagarde, the criminal of IMF speaks. 

http://www.imf.org/external/mmedia/view.aspx?vid=5271994924001

A Conversation with the Managing Director and Thomas Friedman: The Machine, The Market, and Mother Nature



NoWayJose's picture

Walmart needs to schedule more than a couple workers only during the first 3 days of each month.

StreetObserver's picture

That man in the picture used to be a 747 pilot until he was layed off. 

He works 2 days a week and is considered "fully employed" by the Obama administration.

Walmart destroys Main Street. I'm glad people are wising up about their chinkjunk and their labor practices.

Support Main Street, pay cash, buy nothing until President Trump is in office

ThanksIwillHaveAnother's picture

Never liked shopping at Walmart.  Employees are clueless about everything question asked.  Products is disarray.   Reminds me of Sears in a way.

archie bird's picture

So, people who support companies that don't  pay liveable wages can not complain about  individuals who collect welfare and live on medicaid.  Walmart has 10 of the RICHEST people in the WORLD on its board, the  Waltons.  Either the Waltons pay their employees a liveable wage, which by all configurations is about $15 an hour, (probably more) -OR- the government (meaning: US TAXPAYERS) subsidizes their living expenses through food stamps, medical benefits and welfare.  

I personally do not like paying for other peoples living expenses, so MAKE THE WALTONS do it since they're the ones getting RICHER.

 

 

 

 

gdpetti's picture

True, the problem is that Wmart's business model is essentially Kmart with better local tax deals, warehousing, backroom ops, Chinese manufacturing... but all of that only takes you so far... they've overexpanded as they all do, and cost cutting won't solve the problem of their customers having less cash. THe problem with this $15/hr minimum wage issue is that it is lump sum now, instead of being gradually raised as a COLA, as it should have been for decades, but the corporations didn't like that and prevented it, but now the SG is using it as a tool to 'divide and conquer'... this issue of proper COLA adjustments is found in most pensions, Soc Security as well... but those controlling the govt/banks et al don't like to share the profits, so they lie about the economy, the inflation et al... We aren't a country based in laws, but rather a country based in lies... and lies always go bust in the end... but not to worry, this bust or collapse has already been priced into the next wave in the market... down. Most analysis says we are about 75% overpriced... go figure.... reality sucks, but it is a useful tool in the engineering of society, of the masses .. Bernays would be giddy with all the shit being done today... absolutely giddy.... no wonder the nazi's loved him and his propaganda ideas so much... and with all that western bankster support, it was a lovely high while it lasted.. same in Israel today, where the other 'nazis have taken power...

Ashes, ashes, we all fall down.