Walmart Announces CLOSURES – Here Is Why!

(USNewsMag.com) – Due to Portland, Oregon’s high crime rate and widespread theft, Walmart has decided to close its final two shops in the area.

Portland has always preferred local and regional merchants, but the city will be Walmart-free as of March 24. Some of the city’s suburbs will retain their stores as of now.

Around the nation, Walmart will be closing ten shops, including the two in Portland. Also, the Portland tech hub is one of three being shut down by the corporation.

The Portland Police Department conducted a citywide crackdown on theft earlier this month with a retail theft campaign.

A member of the Portland Police Department’s Neighborhood Response Unit, Jordan Zaitz, stated that major retailers are leaving the area. It’s a major development that Walmart will be closing two of its locations. The stores there serve the residents of the surrounding areas.

The decision to shut the Portland locations, according to a Walmart representative, was made after “careful review of their overall performance.” While making these tough choices, numerous aspects are taken into consideration. They include past and predicted financial results, geography, demographics, consumer demands, and competition from surrounding shops.

However, not all of their approximately 5,000 locations in the United States are financially successful. Whenever the corporation makes the decision to close a store, it places a premium on its employees and their ability to make the change smoothly.

The CEO, Doug McMillon, had previously warned of a rise in shrink, the retail sector term for losses due to fraud or theft at stores, months before the March 24 closures were announced. A problem that exists is theft. In comparison to other levels, this one is far higher. He believes that having properly staffed and cooperative local police enforcement is a key factor. If something isn’t fixed, then prices will rise and/or companies will go out of business.

Company officials have said that 580 workers would be affected by the shop closures, but that they will be given the opportunity to relocate to other nearby sites.