Walmart takes the return to office one step further by asking hundreds of employ...
source link: https://finance.yahoo.com/news/walmart-takes-return-office-one-092449445.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Walmart takes the return to office one step further by asking hundreds of employees to relocate to an entirely new city
right, CVS and Walmart
Like many other major companies, Walmart is asking its employees to come into the office more often. In an internal memo seen by the Wall Street Journal, Walmart chief technology officer Suresh Kumar said that the retail giant’s technology workers will be asked to work in person at least two days a week.
But there’s an added catch. Kumar also announced that Walmart would be closing its offices in Austin; Carlsbad, Calif.; and Portland, Ore. Affected workers would either have to move closer to one of Walmart’s remaining primary offices, such as its headquarters in Bentonville, Ark.—or leave the company.
The memo reportedly said that the company would pay severance to those who chose to leave rather than relocate, and that it would cover the costs of those who decided to transfer. The company has not set a timeline for the relocation, reports Reuters.
Walmart did not immediately respond to Fortune’s request for comment, though the company told the Wall Street Journal that some relocated employees will be allowed to become full-time remote workers.
Workers who decide to move to Walmart’s headquarters in Bentonville may be in for a rude surprise. The company has required most employees in its head office to work in person five days a week since last year, according to the Wall Street Journal.
Last year, Walmart announced that it would hire 5,000 more technology workers and open offices in Atlanta and Toronto. After the recently announced closures, the company will have 14 technology hubs remaining, primarily in the U.S., but also in Mexico, Costa Rica, and India.
In-office trend
Many large companies are starting to demand workers come into the office at least part of the week. Last November, Snap announced that it would ask its employees to come into the office at least 80% of the time, starting this February. In January, both Starbucks CEO Howard Schultz and Disney CEO Bob Iger asked employees to come into the office for most of the week.
- Fortune
Salesforce CEO Marc Benioff says his 2-hour all-hands meeting about layoffs was a bad idea: ‘We were trying to explain the unexplainable’
In January, Salesforce said it would lay off 10% of its staffers. A call after the news broke didn’t sit well with employees, and CEO Marc Benioff now admits it was a bad idea.
2d ago - Fortune
Remote work is rebounding again because commuting to the office is too expensive
Remote work is on the rise again, according to new LinkedIn data. It's partly because workers want to skip a cold, pricey commute.
1d ago - Fortune
Overconfident tech CEOs have overpaid for ‘box tickers’ and ‘taskmasters.’ Here’s why the real ‘creators’ will survive the mass layoffs
At excessive numbers, the box tickers and taskmasters tip into "busywork" and create more unnecessary work for the “creators.”
17h ago - Fortune
Amazon CEO Andy Jassy issues a rallying cry to his remaining workers after mass layoffs: ‘We will be misunderstood and underrated’
The boss at the online giant said it is a "really difficult time" but insisted the company's best days are "unquestionably" ahead.
15h ago - American City Business Journals
Walmart is closing tech hubs. What does that mean for its Atlanta expansion?
Less than a year after announcing a new technology hub in Atlanta, retail giant Walmart Inc. says it will shutter three of its other U.S. tech hubs and require those workers to relocate or work remote. Walmart (NYSE: WMT) will close tech hubs in Austin, Texas; Carlsbad, California; and Portland, Oregon, the Wall Street Journal first reported, citing an internal memo from Suresh Kumar, Walmart’s global chief technology officer. Walmart is the latest company to announce tech cuts as the industry tries to navigate economic uncertainty.
1d ago - Benzinga
Bill Gates Asked Why He's Buying So Much US Farmland: Here's His Answer In Free-For-All AMA
Microsoft founder and billionaire turned philanthropist Bill Gates recently laid to rest the long-time conspiracy theory that he owns some 80% of all U.S. farmland in his 11th appearance in an “Ask Me Anything” (AMA) session on Reddit. What Happened: Gates, answering dozens of questions over the course of a few hours during the AMA, including: “Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can disproportionally acquire?” In respon
1d ago - Quartz
A tech founder who didn’t pay employees for months but bought a $16 million private jet has been arrested
The co-founder of Texas-based software firm Slync has been accused of misleading investors and shortchanging employees.
16h ago - MoneyWise
A salary below this amount is a dating deal-breaker for many Americans, survey shows — why you should talk money on your very first date
New data reveals 1 in 3 Americans didn't discuss finances before marriage — and many wish they had.
2d ago - Zacks
Seeking AI Exposure? 3 Stocks to Consider
Artificial Intelligence (AI) has been Wall Street's new shiny toy in 2023, with investors clamoring to find exposure to the technology. After all, it's easy to understand why following ChatGPT's explosion in popularity.
7h ago - MarketWatch
Here come the 5% CDs
If you’re looking for certificates of deposit, the interest rates on offer should be—here’s hoping—heading higher following the latest inflation numbers out Tuesday morning. You can already get 5% on a one-year CD if you shop around, and there should be more—and maybe better—on offer soon following the latest economic news, which has sent the money markets jumping around. January’s inflation data came in higher than expected, and the markets were surprised by the news, even though Federal Reserve Chairman Jay Powell had basically told them this was going to happen at his press conference a couple of weeks ago.
1d ago - Bloomberg
JPMorgan’s Kolanovic Warns of ‘Volmageddon 2.0’ Risk in Options
(Bloomberg) -- The explosive rise of short-dated options is creating event risk on the scale of the stock market’s early-2018 volatility implosion, according to JPMorgan Chase & Co.’s Marko Kolanovic. Most Read from BloombergUS Says 3 Mystery Objects Likely Private, With No China LinkChina Warns of Retaliation Against US Entities in Balloon SagaAmerica's Priciest Neighborhoods Are Changing as the Ultra-Rich Move to FloridaUS Scrambles Jets for ‘Routine’ Intercept of Russian WarplanesNew Cars Are
7h ago - Barrons.com
The 6-Month T-Bill Breaches 5%. It Hasn’t Been This High Since 2007.
The rate on U.S. six-month Treasury bills surpassed 5% on Tuesday, meaning investors can earn even more on their short-term cash.
1d ago - Investor's Business Daily
10 Investors Score $117 Billion On Tesla Stock's Double 'Bubble'
What's it like to make more than $110 billion in five weeks on just one S&P 500 stock? Ask the largest owners of Tesla stock.
12h ago - News Direct
A Once in a Lifetime Bull Market Opportunity in Metals and Mining: US Critical Metals
The market is poised for the next metals and mining bull market to commence. The theme for the last bull market was centered on globalization and the emergence of a new middle class in what we defi...
23h ago - TheStreet.com
The Average New Car Payment Sounds Like A Sick Joke
Along with regular inflation, a global semiconductor shortage has severely limited the availability of new cars (one estimate found that global carmakers produced 8 million fewer cars than planned in 2022) while also hiking up the prices of many used models. A year of sometimes double-digit increases started to wane somewhat by 2023 -- in January, the Bureau of Labor Statistics reported a 0.2% increase in new car prices and a 1.9% drop in used car prices. Average interest rates also rose by an average 53 basis points although there's hope that now that prices are evening out, this number will also start to stabilize.
1d ago - TheStreet.com
Morningstar Lists Surging Stocks That are Still Undervalued
Just because the S&P 500 index has leaped 8% so far this year doesn't mean that all stocks are overvalued.
1d ago - Barrons.com
Cisco Stock Rallies on Earnings Beat and Strong Outlook. It’s a Good Sign for Tech.
Cisco's results could give a lift to investor sentiment about the outlook for enterprise tech spending.
3h ago - Benzinga
Why Devon Energy Stock Is Down After Hours
Devon Energy Corp (NYSE: DVN) shares are trading lower in Tuesday’s after-hours session after the company reported fourth-quarter results. What Happened: Devon Energy reported adjusted fourth-quarter earnings of $1.66 per share, which missed average analyst estimates of $1.75 per share, according to data from Benzinga Pro. Operating cash flow totaled $1.9 billion in the fourth quarter, up 18% year-over-year, resulting in $1.1 billion in free cash flow for the quarter. Devon Energy said productio
1d ago - Investor's Business Daily
Synopsys Stock Falls On Weak Guidance After Mixed Quarterly Report
Chip design software maker Synopsys delivered better-than-expected earnings on in-line sales for its fiscal first quarter.
5h ago - MoneyWise
Phoenix Airbnb, Vrbo managers were shocked that 50% of their homes stayed empty over Super Bowl weekend — here are 3 ways you can still earn steady passive income from real estate
Are short-term rentals the next big bubble?
14h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK