Streamlining For The Future: Walmart Revamps Corporate Designations: Report

Walmart Inc WMT reportedly plans to refine the designation system used for its corporate staff roles in order to stay ahead in the evolving corporate landscape.

While some staff will get a new job title, their roles, responsibilities, type of work and base pay will not change, according to a report from Reuters.

"We're in the process of updating our approach to campus office jobs to ensure we remain competitive in today's environment, better reflect the work being done today, while streamlining job titles across our campus office roles," the report cited Walmart spokesperson.

Workers under both the Walmart banner and its subsidiary, Sam's Club, will witness a reconceptualization of their titles. This reshuffle, scheduled to begin in November, may also bring in variations in compensation for some, the report noted.

The report noted that about 4% of the staff will see a reduction in stock-option awards to ensure compensation is aligned across geographies.

Staff seeing reduced stock options will receive a stock grant to account for the change.

Previously, the company modified its pay structure for entry-level in-store personnel, ensuring uniform starting hourly wages for roles ranging from cashiers and personal shoppers to those stationed in specific departments like electronics or sporting goods.

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Price Action: WMT shares closed lower by 1.61% at $159.93 on Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.