- Walmart Inc’s (NYSE:WMT) workforce reduction at five e-commerce fulfillment centers in the U.S. reportedly will affect more than 2,000 positions.
- The affected employees, though, will be given assistance to find other roles at the company, reported Bloomberg.
- The job cuts include more than 1,000 positions at a warehouse in Fort Worth, Texas, about 600 jobs at a Pennsylvania fulfillment center, 400 in Florida, and 200 in New Jersey.
- Also Read: Walmart-Amazon Rivalry Likely To Heat As As Former Boosts Online Look To Grab More Eyeballs
- The report added that the company might reshuffle some workers rather than let them go as it adjusts its stores and fulfillment centers to handle more online orders.
- Walmart has avoided the mass layoff that has stricken companies across the U.S. Walmart’s rival Amazon.com Inc (NASDAQ:AMZN) said it would eliminate 9,000 jobs in addition to the previously announced 18,000 cuts.
- Also Read: TikTok Founder Meets Walmart Chief Privately, Fuels Speculation Over Possible Deal To Avert Ban
- Price Action: WMT shares closed higher by 0.84% at $148.69 on Monday.
Rosenblatt Maintains Buy on Synopsys, Raises Price Target to $420
Rosenblatt analyst Blair Abernethy maintains Synopsys (NASDAQ:SNPS) with a Buy and raises the price target from $405 to $420.
