Walmart to Cut 7,000 Jobs Across the Nation
BENTONVILLE, AR – As the company looks to further strategies and streamlined services, Walmart has announced that the retailer will be cutting 7,000 positions across the United States.
The company asserted in a statement that the cuts will affect accounting and invoicing jobs as Walmart looks to implement a more modernized system for bookkeeping and tracking inventory.
"We've seen some pretty strong success on the pilot and have decided to roll it out across all of our U.S. stores," Walmart spokesperson Deisha Galberth said of the accounting and invoicing shifts, according to USA Today. This strategy was first tested at 500 stores earlier this summer.
These changes will involve the company moving some of its operations from its stores back to the Walmart's headquarters, as well as utilizing an automated cash recycling machine which Galberth described as “quicker, safer, and more secure.”
For those affected by the cuts, Walmart expects most employees to transition into other positions in the company rather than leave altogether.
These new roles are expected to be more in line with CEO Douglas McMillion’s prolonged focus on boosting customer service by putting more boots on store floors, with additional positions available through Walmart’s new e-commerce endeavors.
Walmart stated that some of the transitioned roles will provide its employees with room for advancement and higher pay, like becoming an Assistant Store Manager, while others may pay less than their current positions.
The prospective cuts and transitions are projected to extend into next year. Walmart employs approximately 1.5 million people throughout the U.S.
As we previously reported, Walmart recently released strong results for its second quarter of 2016, due in part to its new expansions in online grocery and curbside pick-up.
What will be next in Walmart's continued strategy shifts within the competitive buy-side industry? AndNowUKnow will have the latest as more plans are released.