Walmart To Close 150 US Stores – The Reason Why Is Horrifying
January 15, 2016 11:10am PST
Walmart made a bombshell announcement this week that has employees of the superstore terrified.
According to The Blaze, Walmart will be closing 269 of their stores, more than half of which are in the U.S. Another big chunk of stores set to be closed are located in Brazil.
Over 95% of the Walmarts being closed in the U.S. are located within 10 miles of another Walmart. The company promised that they will be working to relocated workers to nearby Walmarts, and the closings are set to begin at the end of this month.
This announcement comes three weeks after Wal-Mart Stores Inc. CEO Doug McMillon told investors that the retailer would be reviewing it’s fleet of stores with the goal of becoming more nimble so that they can compete with brands like Amazon.
“Actively managing our portfolio of assets is essential to maintaining a healthy business,” McMillon said in a statement. “Closing stores is never an easy decision. But it is necessary to keep the company strong and positioned for the future.”
154 of the Walmarts set to close are located in the U.S., leaving thousands of workers terrified for their jobs. We’ll keep these workers in our thoughts and prayers this month!
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