Walmart closing stores

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Looks like more pharmacists will be flooding the market ... I would expect some pharmacist lay offs if they are closing over 200 stores

And this is just a few months after the CVS overnight pharmacist lay offs
 
BenJammin said:
Are the pharmacists and techs being laid off or relocated?
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Where would they be relocated to? These stores are closing permanently. That means the pharmacist and techs are being laid off without being placed at other positions. Positions just don't open up magically. Pharmacy will be facing a 20% unemployment by 2020. Only the most tenacious, highest GPA and most aggressive will get jobs.
 
Rukn said:
Looks like more pharmacists will be flooding the market ... I would expect some pharmacist lay offs if they are closing over 200 stores

And this is just a few months after the CVS overnight pharmacist lay offs
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It's going to be getting extremely competitive. There will be a lot of unemployed pharmacists. All the grads that can't find work are funneling into pharmacy to get a job. It will get to the point where if you don't personally know the owner of a independent pharmacy or are blood related to a CVS pharmacy director you will not get a job in this profession.
 
Alright just got off the phone with my inside source. Apparently they knew about this for awhile but signed a nondisclosure effective until today. All positions in the pharmacy are being terminated but most likely to be rehired by Walmart. Severance package until April.
 
50 stores.... The rest are Walmart express.... Not a lot. For any major chains, that is usual amount of relocation for year.
 
BenJammin said:
Alright just got off the phone with my inside source. Apparently they knew about this for awhile but signed a nondisclosure effective until today. All positions in the pharmacy are being terminated but most likely to be rehired by Walmart. Severance package until April.
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"most likely to be rehired by Walmart" where is walmart going to rehire them if they closed down the pharmacy? There is a finite amount of pharmacist work hours at walmart. I guess they could just cut all the Walmart pharmacist hours so that every one at least makes a little money?
 
It's all strategic with regard to high growth regions vs. lagging regions. Wal-Mart is still opening stores, albeit in large growth areas.....there are several stores slated to be opened across Texas this year, and I will presume it translates across the country. No need to panic. I'm pretty sure they are actually opening a lot more stores than they are closing. They are just trying to be flexible by shifting markets.
 
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BidAsk said:
It's all strategic with regard to high growth regions vs. lagging regions. Wal-Mart is still opening stores, albeit in large growth areas.....there are several stores slated to be opened across Texas this year, and I will presume it translates across the country. No need to panic. I'm pretty sure they are actually opening a lot more stores than they are closing. They are just trying to be flexible by shifting markets.
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Even if that is the plan, it takes more time to open new stores than to close existing ones
 
http://www.forbes.com/sites/timwors...tix&partner=yahootix#2715e4857a0b78d5078457b0

"The positive effect on consumers is some 50 times the possibly negative effect on the workers’ wages. That’s an effect of such size that no reworking of the numbers is going to reverse the conclusion. Yes, low price goods aid consumers more than low wages hurt workers. This is not a belief, this is a fact."

All you liberal people that advocate for higher minimum wage. You guys are idiots. I have met so many people that advocate for a higher minimum wage. Guess what now you are going to be without a job.
 
504poboy said:
http://www.forbes.com/sites/timwors...tix&partner=yahootix#2715e4857a0b78d5078457b0

"The positive effect on consumers is some 50 times the possibly negative effect on the workers’ wages. That’s an effect of such size that no reworking of the numbers is going to reverse the conclusion. Yes, low price goods aid consumers more than low wages hurt workers. This is not a belief, this is a fact."

All you liberal people that advocate for higher minimum wage. You guys are idiots. I have met so many people that advocate for a higher minimum wage. Guess what now you are going to be without a job.
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http://davidcard.berkeley.edu/papers/njmin-aer.pdf

In non-tradeables, there's basically no evidence that suggests that a high minimum wage has a large impact on unemployment. Meanwhile there are salient arguments that suggest that high labor costs are an engine of economic growth, as high labor costs raise the marginal productivity of capital, which promotes investment.

Moreover I am tired of subsidizing Walmart's "everyday low prices" with food stamps, WIC, obamacare subsidies, whatever, mostly to kick out cheap prices for people also on welfare. If you can't get people to kick out output worth $10-$12 per hour in marginal product you get an "F" as an entrepreneur and business owner and should be doing something else.
 
Are you a business owner? The biggest expense is the labor?
 
504poboy said:
Are you a business owner? The biggest expense is the labor?
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I posted empirical evidence that there's zero negative impact on employment from a higher minimum wage, along with a cogent argument explaining why high labor costs are not necessarily a bad thing for economic growth, and your response is this?
 
There is no employment if the store shuts down you.
 
504poboy said:
There is no employment if the store shuts down you.
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*no employment from terrible employers

These people need to go out of business to make way for entrepreneurs who can make businesses that can sustain themselves without massive aid from the government.

Underpaying workers who are turning to the government to avoid homelessness and starvation while bragging about "everyday low prices" isn't a business model, its a shell game.

Trader Joe's and Costco, for example, both pay in the 12-17 per hour region, deliver comparable pricing and better service. Their market share would explode if Walmart went under.
 
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Any Walmart pharmacists that used to work for Walgreens or CVS will tell you otherwise. You cannot sustain if people are demanding a higher minimum wage.
 
504poboy said:
Any Walmart pharmacists that used to work for Walgreens or CVS will tell you otherwise. You cannot sustain if people are demanding a higher minimum wage.
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You've listed 3 companies that are corporate bureaucracies that are about as competitive and responsive to consumer preferences as state DMVs.

These types of businesses should go out of business to make way for clever, innovative entrepreneurs who know what they're doing, and who won't constantly be going hat-in-hand to the government for this or that.
 
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504poboy said:
http://sfist.com/2016/01/16/wal-mart_abruptly_shutters_oakland.php

Open up a business yourself then!
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How is this a bad thing?

WalMart is a terrible company - a true puisicle on the face of American business, labor, the environment- how dumb are you if you can't figure out how to employ people profitably at $12 per hour? Answer: very dumb.

Moreover they've destroyed millions of small American businesses with their shell game of forcing the government to subisidze workers while bragging about "everyday low prices".
 
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Who would replace a Walmart? They are one of the most cost efficient businesses in the world. Who is going to replace them? Keep talking liberal.
 
504poboy said:
http://www.forbes.com/sites/timwors...tix&partner=yahootix#2715e4857a0b78d5078457b0

"The positive effect on consumers is some 50 times the possibly negative effect on the workers’ wages. That’s an effect of such size that no reworking of the numbers is going to reverse the conclusion. Yes, low price goods aid consumers more than low wages hurt workers. This is not a belief, this is a fact."

All you liberal people that advocate for higher minimum wage. You guys are idiots. I have met so many people that advocate for a higher minimum wage. Guess what now you are going to be without a job.
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I don't really care either way about minimum wage. Doesn't affect me in the least. But you may have just as well quoted fox news with that link. That author, even at first glance, bleeds bias.
 
504poboy said:
Who would replace a Walmart? They are one of the most cost efficient businesses in the world. Who is going to replace them? Keep talking liberal.
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You would see explosive growth from companies who offer prices and products at price levels just above Walmart's. Trader Joe's, Target, Costco.

Do true-blue conservatives support massive corporate Welfare? Because that's why Walmart has such huge market share.

Forcing workers to go to the government to avoid homelessness and starvation isn't efficiency. Its corporate welfare in disguise. I think we should force Walmart to pay all the bull**** benefits the government is paying - something about companies with excess 100b have to pay any benefits their workers are forced to apply for from the government.

As to name calling, I've got empirical evidence supporting my position, along with a cogent argument. You are countering empirical evidence with arm-waving and asserting your position is a truism when there's contradictory empirical evidence. I'm betting the VR section pretty well tanked your MCAT.
 
Walmart does give benefits!...are you even a pharmacist?
 
Miami_Postbac said:
You would see explosive growth from companies who offer prices and products at price levels just above Walmart's. Trader Joe's, Target, Costco.

Do true-blue conservatives support massive corporate Welfare? Because that's why Walmart has such huge market share.

Forcing workers to go to the government to avoid homelessness and starvation isn't efficiency. Its corporate welfare in disguise. I think we should force Walmart to pay all the bull**** benefits the government is paying - something about companies with excess 100b have to pay any benefits their workers are forced to apply for from the government.

As to name calling, I've got empirical evidence supporting my position, along with a cogent argument. You are countering empirical evidence with arm-waving and asserting your position is a truism when there's contradictory empirical evidence. I'm betting the VR section pretty well tanked your MCAT.
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I don't know why some people think they are entitled to a certain hourly rate or benefits. You can't force a company to pay you more. If you do then they will need to cut other workers' hours or lay some workers off. Don't take my word for it. Warren Buffet said the same thing.
 
you just cited an article from 1994 with data using Burger King, Wendy's. Fast food companies. The fast food companies have responded by automation of the ordering process. You are useless.
 
504poboy said:
Walmart does give benefits!...are you even a pharmacist?
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I asked about your VR score. How was it?

I don't know why some people think they are entitled to a certain hourly rate or benefits. You can't force a company to pay you more. If you do then they will need to cut other workers' hours or lay some workers off. Don't take my word for it. Warren Buffet said the same thing.
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The minimum doesn't impact me, but representing that its some huge deal and that its going to usher in a 2nd Great Depression are making these claims against robust empirical evidence.
 
WTF is A VR score. I went to pharmacy school.
 
504poboy said:
you just cited an article from 1994 with data using Burger King, Wendy's. Fast food companies. The fast food companies have responded by automation of the ordering process. You are useless.
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I'm gonna go ahead and again ask about your VR score, because the study indicates that they increased employment after the implementation of a higher minimum wage. It doesn't matter.

Card and Kruegger are probably going to eventually get a Nobel for this paper and the 1998 repeat with much more data.

The results have been repeated with BLS data dozens of times.

There's ZERO empirical evidence to support claims that a higher minimum decreases employment.
 
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hhaha...you don't need a paper to show you any evidence? Closing a store is real life evidence!!. I don't what a VR score is because I went straight to pharmacy school when I graduated from high school
 
Your lack of common sense is showing. Typical entitlement babies. You sound like the typical welfare recipient.
 
Good I hope you pay your share of taxes. 1099 people love to avoid the IRS.
 
I am for people getting a hand up not a hand out. You like hand outs clearly.
 
Why should I support Walmart being closed?
 
What Walmart really needs to do is drop the $4 generics nonsense
 
I love how all of these people were complaining about how Walmart pays low wages. I bet you wish you were still getting those slave wages right now, huh?
 
I work for Walmart and after they raised minimum hourly wage to 9 bucks an hour they ended benefits for part time workers. It's true.
 
Let's be honest though -- Walmart employs a lot of people who are otherwise unemployable. Many of the people working there who aren't in the pharmacy would probably just be unemployed if Walmart didn't give them a job. My local Walmart has people who don't speak a lick of English. Think Costco would hire them? I doubt it. And yes, they probably don't generate the same amount of revenue for the company as an average worker at Costco, so paying them less makes sense.
 
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Everyone likes to pick on Walmart. I don't like to defend them either but let's take a look at the numbers:

Net profit margin: 3.21%

This means for every $100 of merchandise they sell, they only make $3.21. If they increase everyone's wage to $15, their profit margin would plummet and so would their stock value. This will lead to cut in benefits and stores closure.
 
There will probably be a lot of pharmacy closures this year. Just wait until the rite aid buyout is finalized.
 
Miami_Postbac said:
There's ZERO empirical evidence to support claims that a higher minimum decreases employment.
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Ummm then why did so many stores in Seattle go out of business or move out of the city limits when they increased minimum wage to $15? Can I get a 37% raise with zero increase in productivity too?
 
mentos said:
Ummm then why did so many stores in Seattle go out of business or move out of the city limits when they increased minimum wage to $15? Can I get a 37% raise with zero increase in productivity too?
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Source?
 
Corpseman said:
Source?
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https://www.aei.org/publication/min...staurants-1300-largest-since-great-recession/

http://www.ijreview.com/2015/03/272...closing-alarming-rate-15-minimum-wage-factor/

http://www.foxnews.com/politics/201...minimum-wage-as-other-cities-follow-suit.html

http://www.forbes.com/sites/modeled...wer-restaurant-jobs/#2715e4857a0b23b93b172d67

If anything, workers are asking for fewer hours so that they can keep their Medicaid and food stamps. So us taxpayers get to keep paying for their government benefits, while these employees do less work and the businesses have more overhead. Everyone just wants a hand out. What incentive do people have to become a pharm tech, EMT, etc when they can get paid the same amount as a burger flipper?
 
Miami_Postbac said:
Bad businesses went under, paved way for good ones. Unemployment fell and is well below national average at 4.2%

https://ycharts.com/indicators/seattle_wa_unemployment_rate

Tell me again how minimum wage hikes cause mass unemployment.
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I like how some people are so simple minded.

If a business can't afford to pay everyone $15 an hour then it is a "bad" business or shouldn't be in business in the first place. Why don't you start a business and pay everyone at least $15 an hour with full benefits regardless of their skills and work experience, then get back to us?

When you jacked up someone's salary, you are also paying more in taxes (social security tax, medicare tax, unemployment tax). Also, what are you going to pay someone who has been working there for 2 years and is making $15 an hour? Are you going to increase his salary?

People who are fighting for $15 an hour are just going to force these companies to find cheaper alternatives like automation. You are already seeing some of that. Stop by Chase and tell me how many bank tellers do you see.
 
owlegrad said:
Yes Chase only started automating after the minimum wage increase of one city. *eye roll*
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That is what profitable businesses do. They anticipate changes and then adopt.

I am sure within the next 2 years, you will see some form of automation at McDonald's. Just watch and see.
 
BMBiology said:
That is what profitable businesses do. They anticipate changes and then adopt.

I am sure within the next 2 years, you will see some form of automation at McDonald's. Just watch and see.
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Betting on automation is like betting on death or taxes. Eventually yes you will be right. Taco Bell already has ordering by app. Some places let you pay on your phone. Things are only going to move more in this direction. Doesn't take a savant to realize this. Keeping the minimum wage down isn't going to change that.
 
We have a part time tech in our pharmacy who turned down the full time position we're trying to fill because she said she doesn't want to lose the welfare she gets. I don't know why the welfare office doesn't ask us if there's any way she can work full time and we would tell them he truth so they would cut her benefits, but apparently no one cares enough to investigate people abusing hand outs.
 
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