Wal-Mart, the world’s largest retailer of rather cheap crap announced this morning that it will be kicking 16,000 employees in the ass in total with 10,000 of them being right here in the good ol’ U.S of A. Wal-Mart is said to be closing 102 Express Stores which are pretty small to start with and were just “pilot” stores. In total globally the retail mega giant will be closing 269 stores.
It’s going to be a bit before they release their year-end and Q4 earnings but here is a quick look at Q3 for those who care…
Personally I am hoping that the Wal-Mart in my area will not be effected by this news. We have enough assholes running around and Wal-Mart seems to do a pretty good job keeping them all in one place. It would be a shame if I had to see them at Target. Oh well.
Wal-Mart $WMT is currently down 1.68% in pre-market trading with just 15 minutes left on the clock. Target $TGT is also down 2%. ITS GOING TO BE A FUN FRIDAY EVERYONE!
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Good point on the Target comment …
Man o man, another kick to the retail scrotum. At least they’re being proactive instead of running ghost stores.