Doug McMillon, President and CEO of Wal-Mart Stores, Inc., shares more about the factors that led to this decision, how Walmart plans on assisting the impacted six Southern California Walmart stores closing, and the 154 nationwide that will be closing this year.
Six Southern California Walmart Stores Closing
|#2949: 151 E 5th St., Long Beach, CA||1/28/2016|
|#2960: 4101 Crenshaw Blcd., Los Angeles, CA||1/17/2016|
|#5642: 2408 Lincoln Ave., Altadena, CA||1/28/2016|
|#5688: 6820 Eastern Ave., Bell Gardens, CA||1/28/2016|
|#5690: 2045 E Highland Ave., San Bernardino, CA||1/28/2016|
|#4173 12120 Carson St., Hawaiian Gardens, CA||1/28/2016|
More than 95 percent of the stores closing in the U.S. are within 10 miles on average of another Walmart, and the hope is that these associates will be placed in nearby locations. All affected Walmart U.S. associates will receive 60 days’ pay and, if eligible, severance. Walmart will also help associates find their next job opportunity, with a goal of placing as many associates as possible who would like to continue with the company at other nearby locations. Our objective is to help all associates find their next job opportunity, whether with Walmart or somewhere else.
We will be giving impacted associates priority for open positions at other nearby stores. We expect that some associates will transfer to another location and others will take severance and pursue other job opportunities. As we’ve seen with other store closures in the past, the majority of associates who wished to transfer were able to.
Is Walmart closing stores due to increased wages for workers?
Not at all. This is about managing our portfolio smartly. Our investment in associate wages and training is a long-term investment that is already paying off. Our customers are benefiting from a faster checkout process, better in-stock across the stores, a clean shopping environment and friendly associates. As a result, we are seeing improvements in our comp sales, customer traffic and customer satisfaction scores.