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Workers Laid Off At Walmart E-Commerce Sites Across 5 States- $WMT $DIA $SPY

By John F. Heerdink, Jr.

Reportedly, Walmart (WMT) has asked employees at five of its facilities in the United States that handle e-commerce orders to find jobs at other company locations within 90 days, as a reduction or elimination in evening and weekend shifts led to layoffs. The affected locations include Pedricktown, New Jersey, Fort Worth, Texas, Chino, California, Davenport, Florida, and Bethlehem, Pennsylvania.

“We recently adjusted staffing levels to better prepare for the future needs of customers,”stated Walmart adding that it would work closely with affected associates to find jobs at other locations.

Walmart has been investing in automation technology to streamline its e-commerce order processing, partnering with companies such as Knapp to cut down the number of steps it takes employees to process orders. However, the company spokesperson stated that the layoffs were not classified as mass layoffs and that the warehouses continued to operate normally. Walmart did not provide a WARN notification for the other affected locations, as the company is uncertain about the exact number of employees that will be laid off and re-hired. The recent layoffs are part of the company’s ongoing modernization plan, which began with the layoff of nearly 1,500 workers at an online order fulfillment center in Atlanta, Georgia.

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. 


(Read Original Story: Exclusive-Walmart laying off hundreds of US workers at five e-commerce fulfillment centers in Reuters)


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