– “Walmart is closing hundreds of stores and laying off thousands of employees”
By Hayley Peterson, Business Insider:
Walmart is closing 269 stores and laying off thousands of employees.
The move will affect more than 16,000 employees, including 10,000 in the US.
The closings include 154 locations in the US — 102 of which are the company’s smallest stores, called Walmart Express, which have been in pilot since 2011.
Walmart is closing the stores to shift resources to Walmart’s Supercenters and smaller-format Neighborhood Market stores.
Walmart will also shut down 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers, and four Sam’s Clubs. All the stores will close by the end of the month.