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.
Walmart to lay off thousands of employees
- Bob Juch
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Walmart to lay off thousands of employees
I may not have gone where I intended to go, but I think I have ended up where I needed to be.
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Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- jaybee
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Re: Walmart to lay off thousands of employees
They're not targeting Walmart employees who have just bought new cars are they?
Jaybee
- silverscreenselect
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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?
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?
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.
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- Bob78164
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Re: Walmart to lay off thousands of employees
Corporate tax cuts: great for companies and their owners. For employees, not so much. --Bobsilverscreenselect 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?
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.
"Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason than that of blindfolded fear." Thomas Jefferson
- Beebs52
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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.
Well, then
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Re: Walmart to lay off thousands of employees
Obviously, Walmart has better PR people than Kimberly-Clark does.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
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- Beebs52
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Re: Walmart to lay off thousands of employees
How so? This stuff has been in the works for awhile.silverscreenselect wrote:Obviously, Walmart has better PR people than Kimberly-Clark does.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
Well, then
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Re: Walmart to lay off thousands of employees
Raising the minimum wage might have a little to do with it.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
To argue with a person who has renounced the use of reason is like administering medicine to the dead. -Thomas Paine
You can ignore reality, but you can't ignore the consequences of ignoring reality. -Ayn Rand
Those who can make you believe absurdities, can make you commit atrocities. -Voltaire
You can ignore reality, but you can't ignore the consequences of ignoring reality. -Ayn Rand
Those who can make you believe absurdities, can make you commit atrocities. -Voltaire
- silverscreenselect
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Re: Walmart to lay off thousands of employees
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.Beebs52 wrote:How so? This stuff has been in the works for awhile.silverscreenselect wrote:Obviously, Walmart has better PR people than Kimberly-Clark does.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
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- Bob Juch
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Re: Walmart to lay off thousands of employees
The minimum wage hasn't been raised.tlynn78 wrote:Raising the minimum wage might have a little to do with it.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
![Rolling Eyes :roll:](./images/smilies/icon_rolleyes.gif)
I may not have gone where I intended to go, but I think I have ended up where I needed to be.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- tlynn78
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Re: Walmart to lay off thousands of employees
Bob Juch wrote:The minimum wage hasn't been raised.tlynn78 wrote:Raising the minimum wage might have a little to do with it.Beebs52 wrote:Walmart is closing some Sams Clubs and KC restructuring. Online sales, etc are cited, not tax program.
![Rolling Eyes :roll:](./images/smilies/icon_rolleyes.gif)
Maybe not where you are, but it was here.
To argue with a person who has renounced the use of reason is like administering medicine to the dead. -Thomas Paine
You can ignore reality, but you can't ignore the consequences of ignoring reality. -Ayn Rand
Those who can make you believe absurdities, can make you commit atrocities. -Voltaire
You can ignore reality, but you can't ignore the consequences of ignoring reality. -Ayn Rand
Those who can make you believe absurdities, can make you commit atrocities. -Voltaire