According to Wall Street Journal, country’s largest private ecomplyer plans to implement automated cash-counting technology and the massive firings will affect the back-office department.
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Wal-Mart stated that the job cut was not a downsizing move, and the affected and displaced workers will find new jobs that involve direct contact with shoppers.
Wal-Mart Stores Inc. (NYSE:WMT)’s earnings per share growth ratio for the past 5 years was noted as 1.8% while revenue increase for the past 5 years was 2.7%.
Their current wage level isn’t guaranteed, she said.
The buoyancy in the outlook of Wal-Mart Stores Inc.
The employees might not lose their jobs. “Customer surveys indicate that we’re making good progress in providing a better shopping experience with cleaner stores, faster checkout and friendlier service…” Workers who have completed at least six-month training will get at least $10 an hour. Wal-Mart has changed how it stocks shelves to bring more employees to the sales floor during the day, not the middle of the night, to interact with customers.
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Wal-Mart Stores, Inc. (NYSE:WMT) will participate in the 23rd Annual Goldman Sachs Global Retailing Conference on Wed., Sept. 7. The company also announced that is online business has been booming lately, especially in its most recent quarter. The refreshed Mac hardware line includes new versions of the iMac desktop, MacBook Air laptop, and a 5K standalone monitor in collaboration with LG Electronics Inc., in addition to a thinner MacBook Pro laptop. “Anytime one expense line goes up, you are likely to see a reduction in a corresponding expense line”, says Joel Bines, co-head of consulting firm AlixPartners LLP’s retail practice. The retail giant wants to maintain cleaner and faster stores in an effort to make their turnaround strategy in the USA a success. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $64.00 price objective (up previously from $62.00) on shares of Wal-Mart Stores in a research note on Monday, May 16th. Those two to three employees per store were likewise offered the opportunity to work in another part of the company that dealt more directly with customers.
