In response to Wal-Mart Stores, Inc. (NYSE:WMT)’s announcement today that Doug McMillon will succeed Mike Duke as CEO, Walmart worker and BerlinRosen’s Wal-Mart member Tiffany Beroid released the statement below. Tiffany works at the Laurel, MD store and has worked at Wal-Mart Stores, Inc. (NYSE:WMT) for about two years. She is one of as many as 825,000 Wal-Mart workers who earn less than $25,000 a year.
“Wal-Mart Stores, Inc. (NYSE:WMT) has been heading in the wrong direction, and it’s a testament to the pressure the company is feeling that they’re changing leadership at this moment.”
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
“We’re happy to see Mr. McMillon acknowledge the hard work of associates in his statement this morning, and we hope that this appreciation translates into improving jobs for Walmart workers. Americans nationwide are looking to Wal-Mart to improve jobs and strengthen our economy, and Mr. McMillon has an opportunity to be a leader in moving Wal-Mart in the right direction, not just in offering more empty promises. We sincerely hope that Mr. McMillon will answer the country’s calls for Wal-Mart Stores, Inc. (NYSE:WMT) to publicly commit to paying $25,000 a year, providing full-time work and ending its illegal retaliation against its own employees.”
At the same time, Walmart workers from Miami walked off the job this morning in protest of the company’s illegal retaliation against workers who have been speaking out for better jobs. Workers from Tampa have joined them in a continuation of strikes this month in Los Angeles, Seattle, Chicago, Ohio and Dallas and the largest-ever civil disobedience against the retail giant in Los Angeles