logo
Walmart is cutting hundreds of store-support roles, Bloomberg News reports

Walmart is cutting hundreds of store-support roles, Bloomberg News reports

Reuters16-07-2025
July 16 (Reuters) - Walmart (WMT.N), opens new tab is cutting hundreds of store-support roles, in its latest move to simply its structure, Bloomberg News reported on Wednesday, citing a memo.
The U.S. retail bellwether is eliminating the market coordinator job that supports some managers, the report said. These coordinators are considered to be corporate positions, assisting market managers, who are responsible for supervising roughly a dozen store managers each, it said.
The company is also cutting some coach and coordinator roles at Walmart Academy, which trains store employees and managers, according to the report.
Market coordinators and academy coaches will be guaranteed store-level coach roles in the local area, the report said.
Walmart did not immediately respond to a Reuters request for comment.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump met Citi, BofA CEOs to discuss plans for Fannie and Freddie, sources say
Trump met Citi, BofA CEOs to discuss plans for Fannie and Freddie, sources say

Reuters

time23 minutes ago

  • Reuters

Trump met Citi, BofA CEOs to discuss plans for Fannie and Freddie, sources say

NEW YORK, Aug 6 (Reuters) - U.S. President Donald Trump met the CEOs of Citigroup (C.N), opens new tab and Bank of America (BAC.N), opens new tab on Wednesday to discuss the administration's plans to privatize U.S. mortgage financing companies Fannie Mae and Freddie Mac, according to two sources familiar with the situation. Citi CEO Jane Fraser met with Trump at the White House, said one of the sources, who declined to be identified discussing a private meeting. Trump also met BofA CEO Brian Moynihan and his team, a second source said. The White House declined to comment on private meetings. The Trump administration plans to take both firms public and is asking for pitches from the largest banks. The president plans to privatize the mortgage companies, potentially with a large share offering. But in social media posts in May, Trump said he intends to keep government mortgage guarantees and oversight. The meetings follow those held in late July with other bank leaders, including Goldman Sachs (GS.N), opens new tab CEO David Solomon, the second source said. Fannie Mae and Freddie Mac have been under federal conservatorship since 2008 following the financial crisis, during which both entities became insolvent amid the subprime mortgage meltdown. Since then, the companies have rebuilt capital reserves, repaid their Treasury loans and returned to consistent profitability. Shares of both firms, currently traded on over-the-counter markets, have surged amid speculation over privatization plans. The pair guarantee over half of the nation's mortgages. Taking the firms public would end a far-reaching government backstop that was intended to be a temporary reprieve, but could also make mortgages pricier and harder to obtain if the entities guaranteeing fully return to the private sector. Analysts noted that while Trump has been willing to risk economic turmoil in his wide-ranging tariff agenda, there may be more sensitivity to drama in mortgage rates, which are highly visible and familiar to many consumers. "Tariffs may have impacted the stock market, but they did not result in immediate price hikes at Walmart or Dollar General," wrote TD Cowen analyst Jaret Seiberg in a May note. "By contrast, the price of mortgages will respond to each recap and release development. That makes the political cost more immediate. It is why we expect a slower and more deliberative process."

Beyond Meat misses quarterly revenue estimates as plant-based demand weakens
Beyond Meat misses quarterly revenue estimates as plant-based demand weakens

Reuters

time23 minutes ago

  • Reuters

Beyond Meat misses quarterly revenue estimates as plant-based demand weakens

Aug 6 (Reuters) - Beyond Meat (BYND.O), opens new tab missed Wall Street estimates for second-quarter revenue on Wednesday, hurt by weak demand for its plant-based meat products in the U.S. amid ongoing macroeconomic uncertainty. Shares of the company, which also announced a 6% reduction in its global workforce, fell about 4% after the bell. U.S. consumer demand for plant-based meat continued to decline this quarter amid skepticism over taste, processing and price. Macroeconomic uncertainty has pressured consumer spending in the U.S., prompting many to opt for cheaper animal protein. "Consumers' growing concerns about processed foods are severely diminishing the appeal of Beyond Meat's product line, causing retailers and quick service restaurants to pull back sharply on orders," Rachel Wolff, analyst at Emarketer, said. Retail sales of refrigerated plant-based meat alternative products in the U.S. have fallen 17.2% so far this year, and frozen plant-based meat alternatives have fallen 8.1%, according to data from SPINS. The El Segundo-based company said it will lay off 44 North American employees to cut costs, incurring a one-time charge of $0.8–$1.3 million. Revenue for the quarter ended June 28 fell nearly 20% to $75 million, compared with analysts' average estimate of $82 million, according to data compiled by LSEG. It also reported a loss per share of 43 cents, compared with estimates of a 37-cent loss. The company withdrew its annual sales target, citing macroeconomic volatility, earlier in May.

Mckesson lifts annual profit forecast on robust demand for specialty drugs
Mckesson lifts annual profit forecast on robust demand for specialty drugs

Reuters

time25 minutes ago

  • Reuters

Mckesson lifts annual profit forecast on robust demand for specialty drugs

Aug 6 (Reuters) - U.S. drug distributor McKesson (MCK.N), opens new tab raised its annual profit forecast and beat Wall Street earnings estimates on Wednesday, banking on robust demand for specialty medicines. High profit margins for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, have encouraged companies to expand in the market. Texas-headquartered Mckesson expects per-share profit in the range of $37.10 to $37.90 for fiscal 2026, compared to its previous expectation of $36.90 to $37.70. Analysts on average expect a profit of $37.41 per share, according to data compiled by LSEG. Earlier in the day, peer Cencora (COR.N), opens new tab also raised its annual profit forecast and posted quarterly earnings that topped Wall Street estimates. Mckesson reported first-quarter revenue of $97.83 billion, beating analysts' average estimate of $96.08 billion. The company said it benefited from increased prescription volumes from retail national account customers, growth in the distribution of specialty products and contributions from acquisitions. On an adjusted basis, McKesson earned $8.26 per share, compared with estimates of $8.15. The drug distributor's U.S. pharmaceutical unit — its largest segment by revenue — recorded sales of $89.95 billion. That was 25% higher than the year earlier and beat analysts' estimate of $89.52 billion. Last quarter, Mckesson said it would spin off its medical-surgical solutions unit into an independent company to focus on its core drug distribution business.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store