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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.
Walmart (WMT) closed at $139.52 in the latest trading session, marking a -0.64% move from the prior day.