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Reportedly Dow 30 Component, Retailing Giant Walmart To Shut 3 Tech Hubs – $WMT $DIA $INVO

By John F. Heerdink, Jr.

Reportedly, Walmart Stores, Inc. (WMT) is to closing 3 of its U.S. technology hubs, asking hundreds of workers to relocate to keep their jobs. Walmart would close offices that housed technology staff in Austin, Texas, in Carlsbad, California, and in Portland, Oregon, informed Robert Munroe, Walmart’s director of global communications. The operations would move to hubs including one in San Bruno, California or the company’s headquarters in Bentonville, Arkansas.

Robert Munroe, Walmart’s director of global communications stated, “We have decided, looking at our location strategy, that we will exit those three hubs. Everything is variable there is no set date that (this transfer) must be completed”, adding that the combined employment at the three offices was in the hundreds.

Walmart with more than 1.3 million people in the United States, would pay transfer costs of workers who moved and give severance payments to those who want to leave the company.

Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 


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(Read Original Story: RPT-UPDATE 2-Walmart to close three U.S. tech hubs, relocate staff in Reuters)


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