by Kim Souza (ksouza@talkbusiness.net)

Several hundred jobs are being cut at Walmart’s home office and its global tech operations. The layoffs in Bentonville began Monday (May 13), according to people familiar with the matter. Merchandising operations are being reorganized with some cuts in associate merchant jobs.

Updated info: Walmart Chief People Officer Donna Morris sent the following statement Tuesday (May 14) to employees.

“It has been a little over four years since we faced the global pandemic that reshaped our lives in many ways, including our ways of working. In February 2022, we made the decision to bring Home Office associates back into our campus offices. We believe that being together, in person, makes us better and helps us to collaborate, innovate and move even faster. We also believe it helps strengthen our culture as well as grow and develop our associates.

“With the goal of bringing more of us together more often, we are asking the majority of associates working remotely, and the majority of associates within our offices in Dallas, Atlanta, and our Toronto Global Tech office, to relocate. Most relocations will be to our Home Office in Bentonville, but some will be to our offices in the San Francisco Bay Area or Hoboken/New York.

Walmart cutting corporate jobs, recalls some remote workers (Updated)

by Kim Souza (ksouza@talkbusiness.net)

It’s proven to be a tough job to hold as of late. The Tyson Foods chief executive officer role has turned over four times in seven years since Donnie Smith stepped down. Tyson Foods CEO Donnie King, CEO since June 2021, is the fourth in the job since Smith left in 2016.

Smith held the CEO position through a growth period for Tyson Foods from 2009 through 2016. He oversaw the acquisition of Hillshire Farms in 2014 and is credited with achieving four straight years of record net income and multiplying stock value six times in seven years.

At 57, Smith stepped down as CEO with a hefty retirement package valued at $24 million, which included a three-year consulting agreement that paid him a minimum of $5,800 per hour worked. His exit package also included $3.53 million in severance and restricted shares and stock options valued at $5.5 million. Additional shares, valued at $6.69 million, were to vest if his successor Tom Hayes achieved certain performance goals. Smith also had a minimum of $8.16 million in retirement benefits. Smith logged 36 years with Tyson Foods, joining the company after college graduation.

https://talkbusiness.net/2023/08/tyson-foods-in-recent-years-sees-rapid-turnover-at-top-job/