Walmart has announced that it will be shutting the doors on 269 stores – 154 in the US and another 115 globally.
Many of the US closings will be Walmart Express locations - the company's smallest stores.
Out of the 154 closing in the US, 102 are Walmart Express stores.
As far as the international closings, the majority are coming from Brazil.
"This includes 60 recently-closed, loss-making stores in Brazil, which represents only 5 percent of sales in that market. The company has already been able to relocate many affected associates in Brazil to other stores. The remaining 55 stores are primarily small, loss-making stores in other Latin American markets," says the company in a release.
“Actively managing our portfolio of assets is essential to maintaining a healthy business,” said Doug McMillon, president and CEO, Wal-Mart Stores, Inc. “Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.”
So, how many employees with this affect? According to Walmart, about 16,000 - 10,000 in the US.
“The decision to close stores is difficult and we care about the associates who will be impacted,” McMillon said. “We invested considerable time assessing our stores and clubs and don’t take this lightly. We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well.”
Check here to find the complete list of stores that are closing.