As the economic policies of the Biden administration continue to wreak havoc across the nation, American giant Walmart is being forced to make some drastic changes. The company is laying off hundreds of workers from its corporate sector and even asking some employees to relocate to larger corporate hubs.
The retail giant is urging workers located in smaller offices in Dallas, Atlanta, and Toronto to move their base to bigger hubs such as Bentonville, Arkansas; Hoboken, New Jersey; and Northern California. This information comes straight from a report by the Wall Street Journal.
Amidst this economic turmoil, Walmart has also tightened its policy on remote working. The company now requires its corporate staff to spend more time at the office, although some will still have the option of working from home. It’s a clear sign of the times when even a major corporation like Walmart is feeling the pinch of Bidenomics.
Furthermore, the company has been actively working on cost-cutting measures for at least a year now. This includes shutting down all its 51 health clinics that were established in the last five years. The healthcare sector has become too challenging due to escalating operating costs and reimbursement issues, making it unsustainable for Walmart at this point.
In February, the retailer also announced it was closing 63 stores, including outlets in Chicago. “The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago,” the company said in a statement. It’s clear that the economic policies of the current administration are having a profound impact on businesses across America.
Honestly though, I can’t blame them for shutting down stores in blue states. They are losing too much money with the high amount of shoplifting and crime.