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Current Events PopWrapped | Current Events

Uh Oh: Walmart Realizes Cutting Staff Could Cost Them Millions

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PopWrapped

@PopWrapped
04/01/2014 3:50 pm
PopWrapped | Current Events
Uh Oh: Walmart Realizes Cutting Staff Could Cost Them Millions
Media Courtesy of dailyfinance.com

Jenna Boures

Staff Writer

@jboures 

When running a business, the first thing you need is something people will want to buy. Super-store juggernaut Walmart has recently struggled with this simple concept. The company has had a problem keeping their shelves stocked –a result of employee layoffs over the last few years. ThinkProgress.org reported on the store’s recent effort to offer large quantities of products. Walmart executives stated this change could mean a $3 billon difference in earnings per year. Customers started complaining about the lack of products over a year ago, Bloomberg reports. Executives responded by discussing “plans to add labor hours as part of an effort to bolster ‘in-store execution’” at Walmart’s annual Year Beginning Meeting in March. In 2008, Walmart employed 20,000 more people than it does today, although the company has opened more than 600 new stores over the past five years –no wonder customers complained about sparse shelves! Walmart has kept expenses small by only offering part-time hours to workers as opposed to full-time positions, which require the company to pay for benefits. In the past, the company has dealt with numerous strikes concerning more work hours, poor treatment, and low wages. While the company has received a lot of media backlash in the past, this new plan could lead to a better work environment for employees. As shelves are being restocked, executives should also consider raising pay from the average $8.81 per hour to a rate closer to the $21.96 per hour made by rival workers at Costco. What do you guys think? Let us know in the comments!

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