Wal-Mart Stores Inc. announced Friday that they will be shutting down 269 stores around the world “in the coming fiscal year” as part of an ongoing reevaluation of their “fleet.” CNBC reports that of the 154 domestic closures, 102 would be Neighborhood Markets—the brand’s smaller stores originally branded as Walmart Express.
The closures will affect “about 10,000" current employees, but because “more than 95 percent of the closed U.S. stores are within 10 miles of another Wal-Mart store,” the company will transfer employees to those locations “when possible.” After all, this is the company that cares so deeply for their employees that they organize food drives for the hungriest ones.
But when life closes a Walmart in one part of the country, it builds a new one somewhere else. The company plans on opening “50 to 60 Supercenters and 85 to 95 of its smaller Neighborhood Markets” in other locations over the next year.
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Image via AP.