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Wal-Mart lays off 450 from Home Office
Posted on 10/2/15 at 9:41 am
Posted on 10/2/15 at 9:41 am
Ouch. Hope none of the ranters got hit.
1
Posted on 10/2/15 at 10:04 am to hogfly
Have they said why?
Posted on 10/2/15 at 10:10 am to VagueMessage
It's part of a restructuring of the home office. It's been rumored since early in the summer. Original rumors were much higher numbers, though.
Posted on 10/2/15 at 10:10 am to VagueMessage
quote:
"Today we are announcing structure changes that will impact people we care about. As a leader, these are some of the toughest decisions to make. While difficult, I believe these changes will help us become a more nimble organization that serves customers better. Our customers are changing, retail is changing and we must change. We need to become a more agile company that can easily adapt to shifting customer demand. After months of evaluation, we’ve concluded there is an opportunity to better position our Home Office teams to move with speed and purpose.
typical corp stuff. if you've ever worked for acxiom then you've been thru that 15 times.
Posted on 10/2/15 at 10:44 am to piggilicious
quote:
typical corp stuff. if you've ever worked for acxiom then you've been thru that 15 times.
Yup. Walmart, Target, and the rest of the big box stores are trimming staff thanks to fairly stagnant sales. They're still making money hand over fist thank you, but they aren't meeting market forecasts.
So Walmart trims a few home office jobs (Target and other stores have fired a shite ton more)to temporarily bump up the stock price.
I understand the basic reasoning behind it... but for me hearing a company is laying off people makes me a bit less likely to invest my money in them.
Posted on 10/2/15 at 11:10 am to piggilicious
Been at Acxiom 15 years...so I know what you mean
Posted on 10/2/15 at 1:50 pm to sugatowng
We just hired a guy after 20 years with the ax. From what I gathered he didn't think he would make the next round.
Posted on 10/2/15 at 6:00 pm to King
My sister was one of the 450. She's been with them 20 years and has given her heart and soul to that company. For 19 years she got stellar reviews and was steadily promoted.
Posted on 10/2/15 at 7:15 pm to Chromdome35
quote:
My sister was one of the 450. She's been with them 20 years and has given her heart and soul to that company. For 19 years she got stellar reviews and was steadily promoted.
Terrible that they would do that to someone who has been there so long. You hate for anyone to get fired from a place but if it is going to happen better it happen to someone at the beginning of their career... its a lot easier to pick up the pieces then. Sorry to hear that your sister was one of the ones they let go.
Posted on 10/2/15 at 8:46 pm to Chromdome35
why anyone would stay with a major corp nowadays past 10-15 is beyond me. A responsible person should be able to semi-retire with that many years on the money earned.
Real estate is your daddy, get some.
Real estate is your daddy, get some.
Posted on 10/2/15 at 8:54 pm to Chromdome35
That's terrible, especially when the CEO makes $20m and those directly under him probably another $20m.
That's also one reason I never shop at Walmart or Sam's.
Kroger FTW
That's also one reason I never shop at Walmart or Sam's.
Kroger FTW
Posted on 10/2/15 at 9:00 pm to RunningBlake
GFY, Wal-Mart CEO is responsible for 1.4 million American Wal-Mart employees. Not counting all of the jobs that suppliers provide.
Like I said, GFY
Like I said, GFY
Posted on 10/2/15 at 9:13 pm to RunningBlake
I love me some Kroger (especially Kroger Marketplace) and rarely venture to Walmart anymore but I can't say they haven't added value to the work force. Everyone has their opinions but they are everywhere which means a lot of jobs and good for the economy.
Posted on 10/2/15 at 9:29 pm to DC RaiseHerBack
This was a self-preservation move. Our boy at the top is pissing off investors by treating store level employees a little more human-like.
I hate the corporate mentality and the evil structure that is a conglomerate. If you're not growing you're dieing. The analysts projections are one of the worst factors in our economy. Common sense and logic aren't really used. It's spreadsheet calculations of charges and profits and assets being unloaded not real world views of all of the variables that happen in this thing called life.
Nothing, absolutely nothing can keep on an ever-continuing upward trend. Cycles, peaks and valleys, circle of life, continuous innovation demands, international market pressures.
Wall Street analysts and their made to set you up to make a short or cheap buy for their cronies reports are a game that is rigged for only them to win.
The only thing this move does is give the CEO another year on the job, and removes $5-10 million of wages annually from the local NWA economy.
I hate the corporate mentality and the evil structure that is a conglomerate. If you're not growing you're dieing. The analysts projections are one of the worst factors in our economy. Common sense and logic aren't really used. It's spreadsheet calculations of charges and profits and assets being unloaded not real world views of all of the variables that happen in this thing called life.
Nothing, absolutely nothing can keep on an ever-continuing upward trend. Cycles, peaks and valleys, circle of life, continuous innovation demands, international market pressures.
Wall Street analysts and their made to set you up to make a short or cheap buy for their cronies reports are a game that is rigged for only them to win.
The only thing this move does is give the CEO another year on the job, and removes $5-10 million of wages annually from the local NWA economy.
Posted on 10/2/15 at 9:32 pm to CtotheVrzrbck
quote:
Wall Street analysts and their made to set you up to make a short or cheap buy for their cronies reports are a game that is rigged for only them to win.
Actually I think anyone can set up an account and buy stock, bonds and mutual funds
Posted on 10/2/15 at 9:53 pm to CtotheVrzrbck
But to be able to pay the checker $10/hr, Walmart has to cut costs.
Then WMT comes in and tries to take over a whole section of town with their markets and I'm like
Then WMT comes in and tries to take over a whole section of town with their markets and I'm like
Posted on 10/2/15 at 10:04 pm to CtotheVrzrbck
Bet it's more like $15 million in salaries, if not more.
This post was edited on 10/2/15 at 10:05 pm
Posted on 10/2/15 at 10:18 pm to WonderWartHawg
Look at the bright side
Bill Lumbergh's stock is going to go up a quarter of a percent.
Bill Lumbergh's stock is going to go up a quarter of a percent.
Posted on 10/3/15 at 12:07 am to Porker Face
quote:
Actually I think anyone can set up an account and buy stock, bonds and mutual funds
Yes that is true. The point I'm making is stocks need to hit target numbers on the quarterlies. Who sets those target projections? 3rd party Wall St. analysts, whose skin in the game isn't to accurately project EPS, net profit, or production schedules. They're there to set an expectation, market that expectation to consumer level buyers/sellers and set up the little trading houses to get mollywogged by the giants, commercial level traders, and hedge funds that move massive amounts of shares daily.
Set the expectation to a point so that no matter what happens your buddies have an edge and can trade appropriately days or weeks in advance, the numbers come out, the stock moves, your boyz cash out and the analysts are elbow deep in blow and nasally Italian/Irish rat face train and tunnel pussy on the trader's dime.
Posted on 10/3/15 at 8:51 am to CtotheVrzrbck
I agree. Many publicly traded companies sacrifice long term forecasting in favor of chasing quarterly results
Private companies don't have to do that though
Private companies don't have to do that though
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