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Effect of Walmart's corporate restructuring on its stock price within 6 months
2
Resolution / Starting Odds
Increase • 33%
Decrease • 33%
No significant change • 34%
Stock market data and analysis
Story
Walmart to Lay Off Hundreds of Corporate Jobs, Relocate Remote Workers, WSJ Reports
May 14, 2024, 07:00 AM
Walmart is implementing significant changes to its corporate workforce, laying off hundreds of corporate jobs and requiring most remote workers to relocate to office hubs. The affected employees are primarily in smaller offices in Dallas, Atlanta, and Toronto, who are being asked to move to larger hubs such as Walmart's corporate headquarters in Bentonville, Arkansas, as well as Hoboken, New Jersey, and Southern California. This move comes as Walmart prepares to open a massive new campus at its corporate headquarters and aims to have 65% of its stores serviced by automation by the end of 2026. The layoffs and relocations, reported by WSJ, are part of Walmart's broader strategy to address slowing growth and streamline operations ahead of its upcoming earnings report. Walmart, the largest employer in the U.S. with 1.6 million workers, is downsizing its corporate workforce.
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