Walmart plans to close 154 stores at the end of January, including the company’s 102 smallest format stores, Walmart Express.
“Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it," said Doug McMillon, president and CEO.
In total, approximately 1o,000 employees in the US will be impacted by the decisio. More than 95 percent of the closed stores are within 10 miles on average of another Walmart, and the hope is that these employees will be placed in nearby locations. Where that isn’t possible, the company will provide 60 days of pay and, if eligible, severance, as well as resume and interview skills training.
The full list of stores to be closed is here.
-RW
Odd, but the economy is roaring. Come on FED slam the breaks! Inflation is headed our way.
ReplyDeleteWalMart is opening more stores than it is closing this year. Makes sense to get rid of a few failing stores. But am a bit surprised they are abandoning the Express...
ReplyDelete