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The company will also ask employees in smaller offices to move to central hubs. Stores in Dallas, Atlanta and Toronto will close.
Those workers will have to relocate to Bentonville, Hoboken, New Jersey, or Northern California.
“They mentioned hundreds of layoffs,” said Dr. Michael Parker, chief economist and state economic forecaster for the Arkansas Economic Development Institute at the University of Arkansas at Little Rock. “But that’s pretty small compared to the 1.6 million workers nationwide. “I think what’s really important is consolidating the workforce in Bentonville and working in person rather than remotely.”
Most remote workers have been told they have until July to decide whether to relocate or quit.
“This is certainly not about reducing spending to save the business from disaster,” Dr. Paco said. “No, this is clearly about consolidating and prioritizing some of its administrative functions.”
Walmart’s new headquarters on J Street in Bentonville was designed as a hub for its employees. It includes numerous office buildings, a fitness center, a swimming pool, a daycare center, and a design center.
“If anything, this will improve the region’s growth prospects in the coming months compared to what would otherwise be the case,” Parker said.
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