Walmart plans to cut more than 1,000 corporate jobs

Fox Business / WSJ ^ | 2018 January 12 | Dow Jones Newswires

[CutePuppy]

A day after promising to give its store workers raises and bonuses, Wal-Mart Stores Inc. (NYSE:WMT) is preparing to hand out pink slips at its headquarters.

The giant retailer, which is based in Bentonville, Ark., and employs more than 1.5 million people in the U.S., plans to cut more than 1,000 corporate jobs ..... < snip >

..... The job cuts are expected to be broad based, focused on workers primarily at the company's headquarters ..... < snip >

[CutePuppy]

That's in addition to closing more than 60 Sam's Club Stores. Also, corporate jobs usually implies higher-earning, [older] white collar employees. Somebody has to pay for increase in company-wide minimum wage.

TANSTAAFL - There Ain't No Such Thing As A Free Lunch (Robert Heinlein, Milton Friedman). Not that Walmart (and many other national chains) have much of a choice — quite a few states and/or cities where they have stores / branches increased minimum wage and companies find it difficult to justify the disparity in other places, even though the cost of living there is quite different.

[cba123]

But hey.

Last time I was in a Walmart, I saw all sorts of things which were made in China.

Great.

[Governor Dinwiddie]

#2: "Last time I was in a Walmart, I saw all sorts of things which were made in China."

Sam Walton is spinning in his grave. He made it a point when he was alive to source as much merchandise as possible in the USA. Walmart even used to advertise the "made in USA" policy.

[Sequoyah101]

I think this is outstanding news. I hope it puts the brakes on NW Arkansas.

Speaking of China, one of the hands went to town today to get a heater isolation valve. I told him not to bring one home if it is made in China. The one he brought back is made in ITALY!

He did good though. The part isn’t made in China.

The wife and I were at a sporting goods store the other day in Arkansas. You know, the natural state. Even the dang walking sticks they had for sale are made in China.

If you want a challenge go looking for things at Walmart that re not made in China or some S-hole country. The stuff starts with J and ends with UNK.

[867V309]

When I was a sophomore in college, I took a class taught by the dean of the psychology department, a recognized scholar. The first day he told us, “If there’s one thing I want you to get from this class it’s this: THERE’S NO SUCH THING AS A FREE LUNCH.”

[MrEdd]

A large chunk of their corporate deadweight has needed to go for a long time. They do stupid things from Bentonville which predictably damage the profitability of local stores and then are never held accountable.

As for the store closings, a lot of areas are overbuilt.

[montag813]

Expect even more MASSIVE cuts by Walmart to come. Amazon is destroying their business piece by painful piece

[Spiridon]

The fight between those two companies is a real thing and it will be interesting to see who comes out on top.

[CutePuppy]

a class taught by the dean of the psychology department...

I would think the Econ-101 class would be more natural for this kind of knowledge, but you definitely got lucky.

See also my other post about a wrecking ball of minimum wage on other industries : Minimum wage hikes sending restaurants the way of the shopping mall? - FR / FBN, by Brittany De Lea, 2018 December 15

[PittsburghAfterDark]

Here’s the problem I have with Wal Mart, not a problem but shopping dilemma.

I want to know, seriously, where all of you are seeing all of this Made In Chia stuff. I buy nothing but brand name OTC stuff, toiletries, paper towels, consumer goods and a lot of Great Value products.

I’ve bought JBL speakers, a Roku, memory cards, HP printer inks etc in the past 45 days.

Is it the clothes? I mean where exactly are you seeing this stuff since everything I’ve been buying have been established known brands for decades.

[OrangeHoof]

I’m not bothered by this. Wal-Mart tried for the best spin by announcing the added perks to employees but it seems clear they are paying for it, in part, by closing many Sam’s Club locations and letting go middle management. There’s a ready group of them that don’t have jobs at Sam’s Club any more who can fill the positions ably. I just think of it as thinning the bloat so they can become leaner and more responsive to the market in the future.

[867V309]

I would think the Econ-101 class would be more natural for this kind of knowledge, but you definitely got lucky.

You can say that again.

During freshman orientation we were warned about being recruited by the SDS!     Man, how times have changed.

[cba123]

Is this a troll post?

You cannot be series? Go through Walmart from wall to wall. Look at ANYTHING manufactured. In travel. In camping. In electronics. Games. Gear. Small items to buy. Cooking goods. Houseware. Everywhere.

Stem to stern, almost EVERYTHING at our local Walmart about six months ago, was made in China.

I did see a hatchet, which was made in India. However others on the shelf there were made in China, as were everything else in the entire store aisle. Gear was all made in China. Manufactured good. Made in China. Aisle, after aisle, after aisle.

Everything I saw. Everything.

Made in China.

Now granted I did not shop for food, and I did not shop for clothes. I take it Walmart is starting to source those from even cheaper places than China.

But outside of those two things, basically every single thing I saw in the entire big store, which interested me anyway.

Was ALL MADE IN CHINA.

[Mozzafiato]

70% of Walmart’s products are imported from China.

[Boomer]

With 1.5 million employees in the USA; this is hardly news and it didn’t happen because they are giving raises. Stuff like this is looked at for months before making a decision just like closing the 60 Sams Club stores.

As far as Chinese made products; one would be hard pressed to find similar products sold in Walmart not made in China elsewhere. I hope that changes but I think everyone knows factory type work isn’t where the better paying jobs are; not even at the middle-management level. Everyone wants to make more money but they aren’t willing to step up, take a business class, and invest in a business of their own. No risk; no reward.

[cba123]

I don’t know.

China protects their market. We do not.

[WMarshal]

Chinamart always suffers when the economy does well when people can afford better things.

[DoodleDawg]

But...but...but I thought the tax cuts were supposed to unleash a tsunami of pay raises and new jobs. I guess not so much?

[mewzilla]

Cutting administrative bloat is a good thing. If these are those kinda cuts, good for Wally.

[RegulatorCountry]

But...but...but I thought the tax cuts were supposed to unleash a tsunami of pay raises and new jobs. I guess not so much?

I suppose you'd prefer a tax increase under the lunatic and very Democrat belief that this would unleash a tsunami of pay raises and new jobs.

What is it with FR screen names with "Doodle" in them, anyway? Is it useful to sound so countrified when you're hoping to slide progressive politics into the discussion?