Walmart will require tech workers to be in the office at least two days a week.
Andrew Caballero-Reynolds/AFP/Getty Images
WalmartInc
is planning to close three of its technology hubs in the U.S. and tell hundreds of workers to relocate to keep their jobs, The Wall Street Journal reported late Monday.
The retail giant (ticker: WMT) will also require all tech workers to be in the office at least two days a week, the report added, citing a memo to Walmart staff last week.
The retailer is the latest company to urge employees to come back into the office.
Disney
(DIS) CEO Bob Iger told employees last month they would be required to work from an office four days a week, while Vanguard Group and
Paycom Software
(PAYC) has issued similar directives, according to the Journal.
Offices in Austin, Texas; Carlsbad, California; and Portland, Oregon—all hubs that housed tech staff—will close, according to the memo from Global Chief Technology Officer Suresh Kumar.
“We’ve made the decision to focus our tech team’s presence within select locations,” a Walmart spokeswoman told the Journal. Walmart wants to relocate most of the workers at the three hubs and some will be allowed to work remotely full-time, she added.
Walmart did not immediately respond to Barron’s request for comment early Tuesday.
The stock has climbed 2.9% so far this year, underperforming the S&P 500, which is up 7.8% over the period.
Write to Callum Keown at callum.keown@barrons.com
Credit: marketwatch.com