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Walmart to lay off thousands of employees
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Author:  Bob Juch [ Thu Jan 11, 2018 6:24 pm ]
Post subject:  Walmart to lay off thousands of employees

Quote:
Walmart has announced that it will lay off thousands of workers across the country as it closes dozens of Sam's Club locations.

The announcement comes on the same day the retail giant announced it was raising its starting minimum wage for new employees to $11 an hour.

The company told Business Insider that 63 Sam's Club stores will close. Some locations reportedly stopped business suddenly on Thursday without giving advance warning to employees.

Author:  jaybee [ Thu Jan 11, 2018 8:24 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

They're not targeting Walmart employees who have just bought new cars are they?

Author:  silverscreenselect [ Wed Jan 24, 2018 12:43 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Let's add Kimberly-Clark to the list:

https://www.nytimes.com/2018/01/23/busi ... ctionfront

And remember the Trump tax cut that was going to lead to all those wonderful new jobs?

Quote:
Restructurings typically come with upfront costs for the companies, as they pay workers severance or renegotiate leases. In a conference call with analysts on Tuesday, Kimberly-Clark’s chief financial officer, Maria Henry, said “cash flow benefits” from the Republican tax cut would help fund “the restructuring program over the next few years.” She said the tax savings would also be used to make capital investments and to “allocate significant capital to shareholders.”

In addition to announcing job cuts on Tuesday, Kimberly-Clark said it would raise its quarterly dividend by 3.1 percent this year. Last year, the company spent about $900 million repurchasing its own shares.

Author:  Bob78164 [ Wed Jan 24, 2018 12:46 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

silverscreenselect wrote:
Let's add Kimberly-Clark to the list:

https://www.nytimes.com/2018/01/23/busi ... ctionfront

And remember the Trump tax cut that was going to lead to all those wonderful new jobs?

Quote:
Restructurings typically come with upfront costs for the companies, as they pay workers severance or renegotiate leases. In a conference call with analysts on Tuesday, Kimberly-Clark’s chief financial officer, Maria Henry, said “cash flow benefits” from the Republican tax cut would help fund “the restructuring program over the next few years.” She said the tax savings would also be used to make capital investments and to “allocate significant capital to shareholders.”

In addition to announcing job cuts on Tuesday, Kimberly-Clark said it would raise its quarterly dividend by 3.1 percent this year. Last year, the company spent about $900 million repurchasing its own shares.
Corporate tax cuts: great for companies and their owners. For employees, not so much. --Bob

Author:  Beebs52 [ Wed Jan 24, 2018 1:12 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.

Author:  silverscreenselect [ Wed Jan 24, 2018 2:17 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Obviously, Walmart has better PR people than Kimberly-Clark does.

Author:  Beebs52 [ Wed Jan 24, 2018 2:21 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

silverscreenselect wrote:
Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Obviously, Walmart has better PR people than Kimberly-Clark does.


How so? This stuff has been in the works for awhile.

Author:  tlynn78 [ Wed Jan 24, 2018 2:42 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Raising the minimum wage might have a little to do with it.

Author:  silverscreenselect [ Wed Jan 24, 2018 3:01 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Beebs52 wrote:
silverscreenselect wrote:
Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Obviously, Walmart has better PR people than Kimberly-Clark does.


How so? This stuff has been in the works for awhile.


Walmart was smart enough not to mention that the tax cut is helping them take care of "restructuring costs" (translation: severance packages) when they laid off thousands of employees.

Author:  Bob Juch [ Wed Jan 24, 2018 3:03 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

tlynn78 wrote:
Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Raising the minimum wage might have a little to do with it.

The minimum wage hasn't been raised. :roll:

Author:  tlynn78 [ Wed Jan 24, 2018 3:04 pm ]
Post subject:  Re: Walmart to lay off thousands of employees

Bob Juch wrote:
tlynn78 wrote:
Beebs52 wrote:
Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.


Raising the minimum wage might have a little to do with it.

The minimum wage hasn't been raised. :roll:

:roll:
Maybe not where you are, but it was here.

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