Walmart Opts To Shutdown Three US Tech Hubs And Expects Workers To Resume Office - Walmart (NYSE:WMT)

Walmart Inc WMT prepared to close three of its 11 U.S. technology hubs and relocate the affected workers.
Walmart will shut down tech offices in Austin, Texas; Portland, Oregon; and Carlsbad, California, Bloomberg reports citing Global Chief Technology Officer Suresh Kumar's internal memo.
Tech employees will also have to work in the office at least twice a week, although Walmart may convert some roles into remote positions.
Walmart's move follows downsizing at major technology companies, including Microsoft Corp MSFT, Alphabet Inc's GOOG GOOGL Google and Meta Platforms Inc META, which struggled with the weaker economic outlook.
Amazon.Com, Inc AMZN prepared to sell a vacant Bay Area office complex purchased 16 months ago as the firm went on a subleasing spree to reduce excess space amid the pandemic recovery-driven sales slowdown and macro headwinds.
Meta had shared plans to close one of its offices in New York after scaling down its expansion plans in the city.
Many companies, including Apple Inc AAPL and Tesla Inc TSLA, also pushed employees to resume office.
Walmart closed the three hubs less than a year after Kumar shared plans to add new tech centers in Atlanta and Toronto and hire 5,000 staffers to work on cybersecurity, software engineering, data science, and other areas.
The company's tech operation, which also has six hubs outside the U.S., employed over 20,000 worldwide as of March.
The Bentonville, Arkansas-based retailer will pay to relocate employees in the closing tech centers. Those who quit as a result of the decision will receive severance pay.
Price Action: WMT shares are down by 1.50% at $143.72 premarket on the last check Tuesday.

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