Walmart (WMT) announce it is closing a fulfillment center that services online orders for its warehouse club chain Sam’s Club in Fort Worth, Texas, and sources familiar with the matter said the move could result in job losses, Reuters’ Siddharth Cavale reports. Walmart confirmed the closure to Reuters, but said it could not estimate the number of possible job losses until employees make their decisions on relocation. A spokesperson said the facility employed fewer than 200 workers, but declined to elaborate.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMT:
- Option traders moderately bearish in Wal-Mart with shares down 1.25%
- Verb announces MARKET.live division will host Walmart livestream shopping event
- Mixed options sentiment in Wal-Mart with shares down 0.27%
- Walmart Stock (WMT) Thunders Forward Helped by Electric Bikes and Drones
- Walmart testing ‘dark stores’ to speed up deliveries, Bloomberg reports