Wal-Mart Closes 63 Sam's Club Stores, Leaving 11000 Employees Without Work

Wal-Mart Closes 63 Sam's Club Stores, Leaving 11000 Employees Without Work

Wal-Mart Closes 63 Sam's Club Stores, Leaving 11000 Employees Without Work

Walmart closed at least 63 of its Sam's Club stores - a chain of retail warehouse clubs owned and operated by the corporate giant - across the country on the very same day. Walmart said it expects the wage increase to cost $300 million for its next fiscal year, which starts February 1, and the bonuses to cost $400 million.

"Our goal is to place as numerous impacted associates as possible at other Sam's Clubs or Walmart stores", he said in an email.

A full list of impacted stores has not been released, and it's unclear if more stores could shut down. This move lowers the U.S. Sam's Club store count to 597. Founded in 1983, the Sam's Club chain had 660 locations as of October and employed about 100,000 in the USA, according to its website.

The remaining stores will stay open for several weeks before closing permanently, according to Business Insider. Originally from Wisconsin, he is a graduate of Middlebury College and Columbia University's Graduate School of Journalism.

The pay increase, Walmart's third minimum wage increase since 2015, and bonus will benefit more than 1 million U.S. hourly workers, the company said.

"We've chose to right-size our fleet and better align our locations with our strategy", Furner wrote.

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Local officials, including City Council members, were notified Thursday that the store's closing impact's 172 employees.

The company told Business Insider that it would refund customers' membership fees for the affected stores.

"We need a strong fleet of clubs that are fit for the future".

Amid the sweeping US tax overhaul, Walmart said Thursday it's raising its hourly wage to $11, giving new bonuses to employees and expanding maternity and parental leave. "This announcement is attempt to fix a crumbling image, while ignoring thousands of its workers who struggle year after year to pay their bills or depend on government assistance", Making Change at Walmart Director Randy Parraz said in a statement.

Walmart said the new tax law will create "some financial benefit for the company" and that is it is looking at additional investments. Walmart is also amping up its paid maternity leave to 10 weeks, and paid parental leave to six weeks.

Some reports indicated that employees were greeted by locked doors and closure signs when they arrived at work today.

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