Walmart is closing 269 stores worldwide, including 154 in the U.S., as part of its annual review of underperforming locations.
The retailer said it will try to find jobs at other Walmart stores for as many of the affected employees as possible.
The move comes as the company is facing increased competition from online retailers such as Amazon.
Walmart has been closing stores in the U.S. and other countries in recent years as it seeks to focus on its more profitable locations.
The company said the decision to close the stores was not an easy one, but that it was necessary to keep its business strong.
Walmart is the world’s largest retailer, with more than 11,000 stores in 27 countries.
The reasoning behind the decision
On January 15, 2016, Walmart announced it would be closing 269 stores worldwide, including 154 in the United States. The reasoning behind the decision was two-fold. First, the company cited the need to “optimize” its portfolio of stores. Second, Walmart said it wanted to invest more heavily in its e-commerce business.
The decision to close stores was not an easy one for Walmart. After all, Walmart is the world’s largest retailer, and operates more than 11,000 stores in 27 countries. However, the company felt that the move was necessary in order to compete in the rapidly changing retail landscape.
The move also comes as Walmart is facing increased competition from online retailers such as Amazon.com. In recent years, Amazon has been making inroads into the grocery business, a key area for Walmart. In order to compete with Amazon, Walmart has been investing heavily in its own e-commerce business.
The decision to close stores is also part of Walmart’s goal to focus on its most profitable locations. In its announcement, Walmart said it would be closing “underperforming” stores in order to reinvest in its more successful locations.
The move is not without its critics. Some have accused Walmart of trying to boost its bottom line by closing stores and laying off workers. Others have questioned the wisdom of investing in e-commerce at a time when Amazon is already dominating the space.
Only time will tell if Walmart’s decision to close stores and focus on e-commerce will pay off. However, there is no doubt that the company is facing some challenges in the years ahead.
How this will affect employees
The announcement that Walmart is closing 269 stores around the world has left many employees wondering what will happen to their jobs. While the company has not released specific details on which stores will be closing or how many employees will be affected, it is clear that this decision will have a significant impact on those who work for Walmart.
For many employees, Walmart is their primary source of income. Losing their job at Walmart could mean losing their health insurance, their ability to provide for their families, and their ability to pay their bills. This is a scary prospect for anyone, but especially for those who are already struggling to make ends meet.
In addition to the financial impact, losing a job can also have a profound emotional impact. Many people who work at Walmart have developed strong relationships with their co-workers and customers. These relationships can provide a sense of community and belonging that is essential to many people’s well-being. When a store closes, these relationships are suddenly severed, which can leave employees feeling isolated and alone.
The impact of Walmart’s store closures will be felt by employees, their families, and their communities. While it is still unclear exactly how many people will be affected, it is clear that this decision will have a major impact on the lives of those who are affected.
What shoppers can expect
As the novel coronavirus (COVID-19) continues to spread across the United States, many retailers are taking extra precautions to ensure the safety of their employees and customers. Walmart is no exception. The retail giant has announced that it will be closing stores nationwide in an effort to help prevent the spread of the virus.
While this may be an inconvenience for some shoppers, it is important to remember that the safety of employees and customers should always be a top priority. Here are some things that shoppers can expect when they visit a Walmart store that is closed due to the coronavirus:
All sales associates and customers will be required to wear face masks.
- All associates will have their temperatures checked before their shift begins.
- Associates will be required to clean and sanitize their workstations throughout their shift.
- Customers will be asked to practice social distancing while in the store.
- The number of customers allowed in the store at one time will be limited.
- Store hours may be reduced in order to allow for additional cleaning and sanitizing.
- We understand that this is a difficult time for everyone. Please know that we are taking these precautions to help keep our employees and customers safe. We appreciate your understanding and patience.