As Walmart Tanks So Does Bidenomics?

When Walmart starts laying off workers you can bet the cheap boots you bought there that Joe’s Bidenomics economy is going the way of the Rivian EV. Hundreds of jobs are kaput & some staffers are asked to move to large corporate hubs.

Does this mean the Walmart elderly greeter is going to be “asked” to find new work at a “large corporate hub”? Probably not, since it sounds like the layoffs & relocations mostly involves “corporate workers”. Says the WSJ citing “people familiar” with the matter, “Workers in small offices in Dallas, Atlanta & Toronto” are quietly being asked to move to “other central hubs like Walmart’s corporate headquarters in Bentonville, Ark., as well as Hoboken, NJ or Northern California.”

But, perhaps most alarming is simply the fact that the Walmart juggernaut, the nation’s largest employer, is having to cut jobs to save money so its shoppers can still save money in the face of nagging inflation. On Tuesday there was still more bad news on that front as Fox Business reported that “inflation at the wholesale level rose much more than expected in April, the latest sign that price pressures within the economy remain elevated & difficult to tame.” By Thursday, the April CPI rate rise came in at a slightly slower 3.4% rate, cheering the markets but not impressing many consumers.

Davd Soul