It was just over a week ago that reports emerged that Walmart planned to lay off “hundreds of people” in its e-commerce business, but now Bloomberg reports that the company’s “job cuts at five US e-commerce fulfillment centers will affect more than 2,000 positions, according to regulatory filings, though impacted employees may find other roles at the company.
“The losses include more than 1,000 positions at a warehouse in Fort Worth, Texas, the state’s workforce commission said Monday. The retail giant is also anticipating a reduction of almost 600 jobs at a Pennsylvania fulfillment center, 400 in Florida and about 200 in New Jersey. An additional reduction is planned in California.”
Walmart says that as it rationalizes its various business units and adjusts head counts to meet current needs, it may be able to “shuffle” some workers as opposed to just laying them off.
Bloomberg notes that to this point, Walmart has been able to avoid the kinds of mass layoffs – 27,000 announced to this point – in which rival Amazon has been engaging, as well as those being imposed on their workforces by many tech companies.
KC’s View:
There are so many of these stories, and yet the impact on the unemployment rate so far, at least, seems to be negligible. Which probably explains more about how much I don’t understand about economics as anything else.
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