Bentonville, Arkansas-based Walmart Inc., the large iconic retailers, has announced the lay off of 569 layoffs and the permanent closure the finance and accounting unit located in Charlotte , North Carolina office as it outsources its finance and accounting operations to New York City, New York-based Genpact, a global business process outsourcer that originated as a division of General Electric.
A Walmart spokesperson noted, “This was a difficult decision that affects friends and associates we care about deeply. We appreciate their important contributions, and we’re committed to handling every transition over the next seven months smoothly and respectfully. We are maintaining a corporate presence in Charlotte. As our company continues evolving, we’ve said we must strike the right balance between managing the needs of our business, our associates and our customers.”
In filing a WARN (Worker Adjustment and Retraining Notification) notice with North Carolina Department of Commerce, a member of the company’s general counsel staff added, “Our customers are changing the way they shop, which requires us to change how we work. To compete in this new era of retail, we must be willing to pull back in some areas to invest in others."
For employees who were watching the wall for any handwriting, the outsourcing should come as no surprise as Genpact issued a press release presaging the plan in November, 2018…
“Genpact, a global professional services firm focused on delivering digital transformation, today announced the launch of a new digital innovation hub in Bentonville, Arkansas to expand the company’s services for the retail and consumer goods industries.
Genpact’s investment in Bentonville reflects its commitment to and deep experience in the retail and consumer goods industries, with clients including Walmart. Genpact is co-innovating with Walmart to transform Walmart’s finance and accounting back-office operations located in Bentonville, helping to fuel growth. The digital innovation hub builds on both Walmart’s position as an industry leader, and Genpact’s expertise in advanced digital technologies and domain and process depth in retail and consumer goods.
Retail and consumer goods companies need to continually reinvent themselves to meet ever-changing customer demands,” said Tiger Tyagarajan, president and chief executive officer, Genpact. ‘We are excited to work with Walmart, a renowned innovator in retail, as the anchor client in our new Bentonville hub. We look forward to partnering together to help the area become a digital transformation talent leader for the industry.’”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?