Walmart
About Walmart
Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. It is the largest company in the world by revenue, with total sales of $572.756 billion in 2022 and a net income of $20.397 billion. It is also the world's largest private employer, with over 2.3 million employees.
CEO: Doug McMillon
Year Established:
1962
Last Year's Revenue (in billions):
$572.75
Stock Symbol: WMT
Headquarters Location:
Bentonville, AR
*As of 2023-11-20
Recent Layoff Information
Layoffs This Year
Layoffs Past 5 Years
Compared to Sector
Compared to Sector As a Percentage (layoffs/employees)
Are More Layoffs Expected?
As of November 17, 2023, there are no public announcements or reports indicating that Walmart is planning layoffs in the next year. However, the company's financial performance and overall economic conditions could influence future decisions.
Walmart has a history of maintaining a stable workforce and avoiding layoffs, even during economic downturns. The company's strong financial position and consistent profitability have allowed it to weather challenges without resorting to job cuts. Additionally, Walmart's focus on automation and efficiency has helped it reduce costs without impacting its workforce.
Reason for Layoffs
According to a report by Reuters, the layoffs were due to a reduction or elimination of evening and weekend shifts at the affected warehouses. This suggests that Walmart may be seeing a decline in demand for online orders, possibly due to a shift back to in-store shopping as COVID-19 restrictions have eased.
Additionally, Walmart has been investing in automation and robotics in recent years, which could be another factor contributing to the layoffs. As these technologies become more sophisticated, they can perform tasks that were previously done by people, such as picking and packing orders.
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[1]Layoff totals are the totals over the past year and not most recent round of layoffs. Totals will not be exact as it is not possible to track at that level of detail in real time. All information is gathered from SEC filings, WARN notices, news articles, social media posts, and users who post on our site. Layoffinsider uses various ai tools to help gather the data which is then reviewed by humans and cross checked for validity. If you suspect there is incorrect data then please reach out to us for prompt investigation. We want to be the number one trusted source for tracking layoffs.
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