Walmart Store Closings Annoucement by the Numbers
Numbers
269
16,000
154
10
11,598
60
269 is the number of Walmart stores that will be closed worldwide as the world's largest retailer announced on January 15, 2016. 16,000 workers work in those stores. Of these 269 stores, 154 are in the U. S., representing roughly 10,000 employees.
More than 95% of these stores being closed are less than 10 miles from another Walmart store and the retailer is hoping to place as many of these workers as possible into those nearby locations.
There were 11,598 Walmart locations worldwide as of 11/15/2015, so the number of stores being closed represent only 2.3% of their footprint. The 16,000 workers who may potentially lose their jobs represent 0.7% of the worldwide Walmart workforce. That's of little comfort to those people who may lose their jobs.
Amazingly, Walmart is going to give the workers who do lose their jobs 60 days of severance pay along with resume and job interview training.
So what is driving this? In spite of five consecutive quarters of increases in same-store sales as reported by CNBC, the retail behemoth is forecasting lower earnings this year. They had previously announced they would be reviewing store performance with an eye to closing locations that aren't doing as well. Most of the stores being closed are the Walmart Express locations.
The issue is competition. Walmart has identified Amazon.com as a major competitor. Is this the beginning of the end for the giant brick and mortar retailers that cater to the bargain hunting shoppers? Probably not.
I haven't been inside a Walmart in ages. Last time I shopped at one, it had a McDonald's inside. It had a bank inside. There was an income tax preparation business operating inside of the Walmart. It was gigantic. You could spend hours and hours wandering the aisles. While online retailers can be very competitive with brick and mortar stores, they can't offer the experience of going shopping. I can easily buy books from Amazon but I'd rather go to a Barnes and Noble and just browse until I find something I like. The question is, are there enough people with my mindset to keep such places going. It's a question I don't have an answer to.
269
16,000
154
10
11,598
60
269 is the number of Walmart stores that will be closed worldwide as the world's largest retailer announced on January 15, 2016. 16,000 workers work in those stores. Of these 269 stores, 154 are in the U. S., representing roughly 10,000 employees.
More than 95% of these stores being closed are less than 10 miles from another Walmart store and the retailer is hoping to place as many of these workers as possible into those nearby locations.
There were 11,598 Walmart locations worldwide as of 11/15/2015, so the number of stores being closed represent only 2.3% of their footprint. The 16,000 workers who may potentially lose their jobs represent 0.7% of the worldwide Walmart workforce. That's of little comfort to those people who may lose their jobs.
Amazingly, Walmart is going to give the workers who do lose their jobs 60 days of severance pay along with resume and job interview training.
So what is driving this? In spite of five consecutive quarters of increases in same-store sales as reported by CNBC, the retail behemoth is forecasting lower earnings this year. They had previously announced they would be reviewing store performance with an eye to closing locations that aren't doing as well. Most of the stores being closed are the Walmart Express locations.
The issue is competition. Walmart has identified Amazon.com as a major competitor. Is this the beginning of the end for the giant brick and mortar retailers that cater to the bargain hunting shoppers? Probably not.
I haven't been inside a Walmart in ages. Last time I shopped at one, it had a McDonald's inside. It had a bank inside. There was an income tax preparation business operating inside of the Walmart. It was gigantic. You could spend hours and hours wandering the aisles. While online retailers can be very competitive with brick and mortar stores, they can't offer the experience of going shopping. I can easily buy books from Amazon but I'd rather go to a Barnes and Noble and just browse until I find something I like. The question is, are there enough people with my mindset to keep such places going. It's a question I don't have an answer to.
posted by me at 8:22 PM
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