Walmart to Close 269 Stores, Most of Them in the United States
The retail giant Walmart announced it is working to transfer 10,000 U.S. employees to nearby stores as its CEO says the closings are “necessary to keep the company strong.”
The Guardian reports:
Walmart is closing 269 stores, more than half of them in the US and another big chunk in its challenging Brazilian market. The stores being shuttered account for a fraction of the company’s 11,000 stores worldwide and less than 1% of its global revenue, but according to workers’ group Making Change at Walmart, this announcement will affect 10,000 US employees.
More than 95% of the stores set to be closed in the US are within 10 miles of another Walmart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations.
The store closures will start at the end of the month, and many closures will be of the company’s Walmart Express stores: all 102 of them (out of the 154 locations to be shuttered in the US).
Read more here.
—Posted by Alexander Reed Kelly.
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Source: http://www.truthdig.com/eartotheground/item/walmart_to_shutter_269_stores_most_within_the_us_20160116/
