This massive US company is now closing 51 health centers after ending its 5-year efforts to become a direct provider.
Walmart has made the decision to close all 51 of its health centers after it announced a few weeks ago plans to add 18 Walmart Health Centers in Texas this year to join the four currently operating in the state.
There’s no timetable yet for the closings, which will not affect Walmart’s nearly 4,600 pharmacies and 3,000+ vision centers, reports Retail Touch Points.
Walmart Health centers are currently located in Arkansas, Georgia, Florida, Illinois and Texas.
“We understand this change affects lives — the patients who receive care, the associates and providers who deliver care and the communities who supported us along the way,” said the retailer in a statement.
“This is a difficult decision, and like others, the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time.”
Other retailers have attempted to crack the code of providing health care, notably Walmart rival Amazon, which recently offered discounts on its One Medical telehealth service to Prime members.
Best Buy has collaborated with Boston’s Mass General Brigham to support expanded home-based health care and has deployed its Geek Squad to facilitate setup of home health care monitoring devices.
Pharmacy chains including Walgreens and CVS, which purchased primary care provider Oak Street Health for $10.6 billion in February 2023, also have been trying to expand further into health care.
Associates working in Walmart Health centers will be eligible for transfer to other Walmart or Sam’s Club locations and will be paid for 90 days unless they transfer or leave the company.
At the end of this period eligible employees will receive severance.
Health care providers will continue to serve patients while the clinics remain open.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing
Other Economy News Today
A massive shoe retailer now announces a new wave of layoffs to hit headquarters this summer, affecting over 700 employees.
Nike has announced its ‘second phase’ of mass layoffs, effective June 28, according to a Worker Adjustment and Retraining Notification (WARN) filing.
A total of 740 employees will be impacted in the retailer’s home state.
The layoffs are part of the 2% workforce reduction Nike announced in February, which is taking place across two phases, the company confirmed via email.
Nike said job titles and the number of employees in each category would be provided at a later date, once the company has determined them.
Bumping rights are not available for the impacted employees, reports Retail Dive.
“Nike’s always at our best when we’re on the offense. The actions that we’re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health and wellness have never been stronger,” Nike said in a statement.
“While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates.”
The layoffs are tied to a cost-savings plan Nike unveiled in December, which is aimed at generating up to $2 billion in cumulative savings over three years.
Based on the company’s last annual report, the layoffs to 2% of its total workforce will impact more than 1,600 people.
Savings from the plan are set to be reinvested in driving growth, innovation and profitability.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.