money Walmart to increase full-time employees
Yahoo Finance’s Julia La Roche reports the latest news on 2/3 of Walmart hourly workers to be full-time by end of fiscal year 2021.
Video Transcript
ALEXIS CHRISTOFOROUS: All right, I want to switch gears for a moment and talk a little Walmart. Because I know that you are reporting on some breaking news regarding Walmart and how it's going to be bringing on more of its part-time employees and transition them into full-time. What's that going to mean for the big retail chain?
JULIA LA ROCHE: Yeah, this is something Walmart has been working on for the last five years. It was back in 2016 when they revealed that 53% of their hourly store associates were full-time. Now, by the end of the fiscal year, fiscal 2021, which will happen on January 31st of 2022, 2/3 of their US store associates, those hourly store associates, will be full-time. So going back to 2016, that's about just over 100,000 that will be now in full-time rolls since that time frame. So that means 740,000 ish or plus of the 1.2 million US store associates will be full-time.
Walmart defines full-time as folks who are working 34 or more hours per week. But the real, I guess, draw here when they're talking about recruitment and retention is consistency and predictability in their schedules, where they will have the same hours, the same team week to week, so you can actually, I guess, schedule your life outside of work. And they will have 39 to 40 hours scheduled for them each week. So that's the big takeaway here.
This is something that worked really well across their supply chain. So in their distribution centers, fulfillment centers, most of those employees are full-time. They operate in the team structure, something they're seeing that's working quite well in their stores, especially as you think about retail. The store footprint is now acting as a distribution center and a retail place. Alexis.
