September 21, 2019

Layoff Watch ’19: Walmart Accountants and Finance Workers In Charlotte, NC

The Charlotte Business Journal reported last week on some doom-and-gloom news for Walmart accountants based in the Queen City:

Retail giant Walmart Inc. will lay off hundreds in Charlotte starting later this year as it outsources its finance and accounting operations.

The retailer filed a Worker Adjustment and Retraining Notification with the N.C. Department of Commerce this week, stating a permanent closure of a Walmart division in Water Ridge will result in about 569 layoffs. Walmart signed a 12-year lease in 2015 to occupy the full 107,545-square-foot building at 2118 Water Ridge Parkway, where it operates several units, including finance and accounting.

The work that was being done in Charlotte is going to be outsourced to Genpact, a professional services firm that opened a digital innovation hub last year in Bentonville, AR, the city where Walmart is headquartered, according to CBJ.

Layoffs in Charlotte are expected to begin in September and continue until early 2020.

A Walmart spokesperson told the CBJ that all impacted employees will get a severance if eligible and a retention payment if they stay on until the end of their transition period. Walmart also will provide resume and skills training, job fairs, and opportunities to apply for other positions within the company.

All employees who are losing their jobs have been notified, the WARN letter states.

The Walmart layoff announcement comes almost a month after United Airlines said it will cut about 100 accounting jobs in Houston in July and outsource that work instead.

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