Walmart to Hire 50,000 More Workers in Coronavirus-Driven Hiring Spree

Walmart Inc. said on Friday it would hire 50,000 more workers at its stores,
clubs and distribution centers to meet a surge in demand for groceries and
household essentials from consumers stockpiling during the coronavirus

The retailer (WMT) said
it had reached its earlier target of hiring 150,000 workers six weeks ahead of
schedule, taking in 5,000 people per day on average at a time when millions of
Americans are losing their jobs amid unprecedented “stay-at-home”
orders from state and local governments.

The measures, while
necessary to control the spread of the disease, have also brought economic
activity to a virtual standstill, forcing companies to take drastic steps to
save cash.

The S&P 500 index
has fallen 15% from its February record high, while Walmart’s stock has surged
over 10% in the same period.

Walmart said it had
worked with more than 70 companies that furloughed workers due to the pandemic
to hire its 150,000 new employees, many of whom came from the restaurant and
hospitality industries.

The company said 85% of the workers being hired are going
into temporary or part-time roles.

Skyrocketing demand for
food, hand sanitizer, toilet paper and other household products has also
prompted retailers Kroger, Target and to hire by the thousands.

© 2020 Thomson/Reuters.
All rights reserved.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *