As one of the most popular and largest retail corporations in the U.S., Walmart is now hiring 50,000 workers. Not only that, but the franchise is also adding new hubs.
At a Glance
- Walmart is hiring new employees across its frontline and corporate office.
- Walmart is raising their starting wage to $30 for certain roles.
- The company expects more rollbacks on many items.
In 2021, Walmart hired over 13,000 pharmacy technicians, nearly 5,500 pharmacists and pharmacy managers, and over 4,500 truck drivers to meet demand.
On Wednesday, the company announced its plan to add thousands of new workers for positions across its frontline and corporate office. Walmart worked to continue hiring for positions in its stores, clubs, campuses, and supply chain facilities during the fiscal first quarter. This lasts through April. However, the company is also hiring several employees in its global tech organization. While this occurs, the retail chain will also add hubs in Toronto and Atlanta.
Specifically, the company plans to include jobs in “its high-growth” areas. These include the pharmacy, truck drivers, and personal shoppers.
Walmart releases this news just after the issuing a forecast for the year during its earnings call in February. The forecast states the shoppers are in good financial shape.
“At this point, we see really strong demand and a customer who’s in good shape with a strong balance sheet,” Walmart U.S. CEO John Furner revealed.
To attract more applicants, Walmart raised their starting wage to $30 an hour for certain roles in specific markets.
Here’s Why Walmart Is Rolling Back Prices for More Products
Walmart might be hiring several new employees, but that’s not the only recent change to the popular retail company. CNN recently reported that the company is expecting more rollbacks on several of its items.
During their last quarter, Walmart had more products on rollbacks compared to its previous quarter. They’re also planning to add rollbacks to highlight “value prices” for customers.
CNN explains how Walmart uses the strategy “everyday low prices,” or EDLP. “EDLP is our pricing philosophy. So our customers trust that our prices will not change under frequent promotional activity,” Walmart explains.
However, this business model stops Walmart from offering as many coupons, promotions, or sales. The strategy has assisted the company. Dartmouth University Professor of Marketing, Praveen Kopalle, says that customers “get an extra delight” out of the surprise prices. This is because customers are expecting higher prices when doing their weekly shopping.
Walmart CEO Doug McMillon sat down for an interview with CNBC’s Squawk on the Street to discuss how the company views inflation. Apparently, the company looks at inflation as an opportunity to gain market share and emphasize its commitment to value.
“That’s our purpose. We save people money and help them live a better life,” he said. “Those are the words that came out of [Walmart Founder] Sam Walton’s mouth. He loved to fight inflation. So do we.”