Being displaced is like being divorced. Both of them leave empty feelings within you. Whether either is your fault or not. Your feelings turn to grieving, then to anger, then to withdrawl. I know, I have experienced both. You are in control, and if you trust in God to absorb your burdens there is life after both.
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But they have the rest of the month to consider and make revisions to their decisions which I do not think is finalized yet. So I would not relax a bit until Jan 31.
Anyone knows headcount planned for RIF?
When WM leak Info to the press about layoffs to WSJ, generally they float around higher numbers than it actually turn out to be
That gives WM the chance to say "See, it's not as bad as all these rumors claimed" and that makes them look better in the associates' and public eyes
WM is very good at PR
From what I understand they want to restructure to match Jets model. Tech with tech, merchants with merchants, and they want to reform the inside of the business to match them as well to replicate success and try to get our technology to catch up with the times and get rid of scrappy projects to replace with new, better systems. There are a lot of unfinished projects that are quite a few years old that are planned to be decommissioned and eventually replaced.
As a displaced ISD associate as of this week, all of the smaller projects running over 3 years with no end product already finished are being looked at. The budget is very slim and the majority of these little projects are being cut. I've also heard about the new assortment tool mentioned below, I believe that project is close to 4 years old, it use to be under my wing. I know that the executives are looking at project return of investments and that the budget is so small for new developments that only the strongest projects or most valued will be funded, and even then it's light.
Good luck everyone at Walmart. Everyone will get through the hard times. Remember, it's not the only company out there.
There are more restructures in WMT happening throughout the week and next week. I haven't heard of layoffs in this message, just restructure. There is an assortment system being laid to rest and I hear a lot of GEC is getting restructured and there will be some displacement next week
There is a small project team working on a merchandising system that will be canceled and the WM Tech team working on this will move projects and the project team in merchandising will also be moved I hear. It's part of RL2 I'm not sure what the project is called. From what I have heard none of these people will be displaced, only restructured and possibly merged with similar teams.
I also have heard that there were changes yesterday evening in WM Tech around the Director/SR Director level and a few large corporate projects will be resturcured with this new outcome.
@3fdf -that's correct, I am coming up with a very similar number (about $9K payout)
No way near enough to pay my mortgage
Your unemployment will be $451 a month, for 20 weeks, equaling $9020.
About what percentage of salary does one get on unemployment if say they have been making over 50k at walmart for 13 years?
I never step foot in a Walmart store or Sam's Club. So glad to be away from NWA and back to a place where life is good and companies are normal. I know it is sad for people there losing their jobs, but life will get so much better once you get away from that cult of a company and all those backward Arkansas people.
Are the layoffs only on the Walmart side or will the Sam's Club side have layoffs too?
On The discount card you get a new one for a long term associate if you had been employed by Walmart for 20 years regardless of age or if at the time of termination you had worked 15 years and are older than 55.
And of course you are eligible to
file weekly unemployment claims for a max of 20 weeks
You cannot file until you are officially off the payroll
The severance package WAS as described. Not to worry anyone, but I was told it changed. I may be wrong.
If you get hit on Jan 20th, you will still be eligible for both the incentive and the RSRs. You have to walk in the door on the 31st to be eligible for the incentive. WM sneakily changed the rules a few years ago for the RSRs without making any announcement. You have to walk in the door on the day they are vested, which is around March 15th, give or take a few days either way.
I was told you no longer get any severance beyond the 60 days (it was 90 days). You have the 60 days to find a job within WM again. Otherwise you are termed.
You will get a COBRA letter within 30 days for heath insurance. You should be eligible for the ACA. You will also get a notification from Merrill Lynch to move your money somewhere else. You have a good amount of time to move it to another retirement account before penalties. If you have an HSA, you will have to pay the monthly maintenance fee. (WM pays it while you are an associate.) If you have an HRA, any money will be lost so find something to spend it on. Upon termination, you will lose your discount card. So purchase what you need while you can. If you have stock at Computershare, you may want to sell because WM pays those fees too.
Hope that helps.
You won't be able to do anything about the Indian workers in lieu of American job losses, as long as the government continues to allow H1B visas to employers such as Walmart.
I left out one item also on the severance that I did not provide below. You also get one week pay for every increment of $10,000 that you earn on your base salary. In conjunction with that 40 week parameter.
Time to hold WM accountable for enbracing Indian workers more than American
Two weeks pay for every year that you were there up to 40 weeks, plus all of your accrued/earned PTO. In our case we were given 60 days to find employment within Walmart and paid during those 60 days but did not have to work. Also we were able to keep what we had accrued in our RSR's and stock options/purchases.
Can someone advise what the severance package in general is like for those of us who will be let go??
Sounds like going more towards pre harvest. Except vendors from India doing everything
Yes, 20th is scheduled by HR and Asset Protection.
Inventory MGMT, Planning, Buying, HR, WM Tech, Business IT/Special Project, Modulars, Merch Ex, and Finance are expected/known areas for the big move and layoff. I hear more moves than layoffs with the exception of HR & Inventory Mgmt
20th sounds right. End of pay period
Rooms are booked for the 20th at the home and apparel layout building. Inventory Management, Planning, Buying, and special project IT teams are expected to be moved/layed off. Rumor is merge of all special project teams to eliminate duplication of work.
Thanks uncle Lou
And now the waiting game begins. Who stays? Who goes? Just another soap opera. Got my fingers crossed for everyone.
As of now, no meeting rooms have been booked by HR in DGTC...looks like it won't be today.
@Anonymous
"Nonetheless, these individuals were privy to a large amount if company "secrets" and propietery info, their severance packages will be like golden parachutes."
While the rest of us get the shaft!
All of this is so stressful as an employee in technology in David glass. Balgladore getting bigger, bentonville getting smaller. Very few tech jobs in NWA. So stressful!! Hate the idea of moving my family
Note that the link and "this friday" news is from last round of layoff and is not for upcoming layoffs
Is Friday, Jan 13th the day for layoffs at ISD?
Here's a cut and paste from this website:
http://www.arkansasmatters.com/news/local-news/hundreds-of-walmart-corporate-layoffs-expected/241403787
"According to the Wall Street Journal, some Walmart department directors have been told to cancel travel plans and make sure to be at the office this Friday."
I think Sam would roll over in his grave if he knew what they were doing to his once fair and proud company.
Hearing a big layoff round on Wednesday - 10th.
I have never worked at a company where HR was worth a crap. Once you realize they are there to protect the company and not you or your interests, the better off you are.
It is almost a certainty that the departures of officers and VPs are not completely voluntary and was requsted.
Nevetheless, these individuals were privy to a large amount if company "secrets" and propietery info, their severance packages will be like golden parachutes
Glad someone higher up figured out some of the HR areas are ineffective and could be outsourced to consultants. I had to deal with one of the departments over there, they were overloaded with highly banded people who were neither knowledgeable of the subject matter or educated -even at the Sr. Director level. It was perplexing and embarrassing to see vendors and consultants run circles around supposedly tenured Walmart associates in charge of decision making. Walmart needs better ways of finding pockets of ineffective leadership earlier.
Any news about Vendors in ISD? How many associate headcounts are planned for RIF?
Just heard 2 ISD VPs were let go. Carney and Martin. Also, they are planning on merging ISD and ECommerce.
From Fortune.com:
Walmart Cutting Hundreds of Jobs In Latest Round of Layoffs
Phil Wahba
Updated: 4:26 PM Eastern
Walmart (WMT, -0.74%) is about to eliminate hundreds more jobs at headquarters and in regional offices in its latest move cut down on costs and protect its profits.
The discount retailing giant will cut most those of jobs before January 31, the end of its current fiscal year, according to the Wall Street Journal, which first reported the news on Tuesday, citing unnamed people familiar with the situation. A good chunk of the job cuts will be in Walmart's human resource department at headquarters and in regional offices, rather than stores, given belief among some top executives that such functions can be filled by consultants, according to the report.
"As we've previously shared, we are always looking for ways to operate more efficiently and effectively,” Wal-Mart Stores spokesman Greg Hitt told Fortune in an email statement that stopped short of confirming the job cuts."While we continually look at our corporate structure, we have not made any announcements." The cuts are small in number in relation to the size of Walmart's headquarters staff in Bentonville, Arkansas, which numbers 18,000 workers. (Nationwide, Walmart has 1.4 million workers, making it the largest private U.S. employer.)
But the move is the latest by Walmart to be more efficient in its home and regional office management. And it comes as Walmart is feeling the pinch on its profit margins from wage hikes to store workers ($2.7 billion in the last two years) and enormous investments in e-commerce to better compete with Amazon.com (AMZN, -0.20%) and other online stores. At its annual meeting with the financial community in October. Wal-Mart Stores forecast per-share adjusted earnings in fiscal 2018 (which starts Feb. 1) would be flat compared with fiscal 2017.
In September, the company began cutting some 7,000 accounting and invoicing positions within its U.S. stores to redeploy workers to improve in-store customer service, which has been garnering better and better scores, key for Walmart to keep its streak of eight quarters of comparable sales going. In 2015, the company cut 450 jobs at its headquarters to become nimbler.
The latest job cuts comes as a number of other retailers slash payrolls too. Macy's (M, -0.53%) said last week it was cutting 10,000 jobs and closing 68 stores this year, while The Limited this weekend laid off 4,000 workers as it closed all its stores but kept its web site active.In October, Walmart said it would allocate more of its annual capital expenditure budget to beefing up e-commerce, including tech in stores, its shopping and payment apps as well as its web site, and less on stores openings, which will be fewer going forward. Last year, Walmart spent $3.3 billion on e-commerce startup Jet.com and shuttered its 153 small-format Walmart Express chain.