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Yahoo Finance Live discusses a report that Walmart will be laying off hundreds of fulfillment center employees as the retail giant explores integrating automation into its business practices.
NEW YORK (Reuters) -Hundreds of workers at five U.S. Walmart facilities that fulfill e-commerce orders are being asked to find jobs within 90 days at other company locations, a spokesperson confirmed to Reuters. About 200 workers at Pedricktown, New Jersey, and hundreds of others at Fort Worth, Texas; Chino, California; Davenport, Florida; and Bethlehem, Pennsylvania were let go due to a reduction or elimination in evening and weekend shifts, the spokesperson said. The layoffs at Walmart, a retail bellwether because of its size, could be a harbinger of further turmoil in the U.S. economy, which many economists predict could enter recession this year.
Discount retailer Dollar General (NYSE: DG) is what some might call a boring business. Not only could this continue, but Dollar General could be one of the best stocks to hold in your portfolio during a recession, something 6-in-10 economists believe could happen in the next year. It turns out that the company's Dollar General brand is quite misleading when you look at the company's financials.