Walmart plans to automate 65% of its stores within next three years in order to speed up its

e-commerce fulfillment center.

The move follows the announcement of laying off 2,000 employees who fulfill online orders.

Walmart aims to move around 55% of packages that it processes through its

fulfillment centers through automated facilities by January 2026 which is

expected to improve unit cost averages by about 20% the company's

investment in automation technology as part of it's a more than 15 billion dollar capital spending budget this

this this increased efficiency will support better inventory management of Walmart's rapidly grown e-commerce business.

Walmart hiked its minimum wage earlier this year across the country,

surpassing 1750, which were expected to be reflected in March 2nd paychecks, Tom.

There's a cause and effect here, ladies and gentlemen, and so you got Bernie Sanders out there

trying to raise minimum raise, wage the minimum raise.

So how did Walmart respond? First of all they said for the people

that are working well in our stores that are doing well we're going to move you up to

1750. There was also a thing about Walmart was actually paying some education reimbursements when

those people wanted to go and take some courses but then on the other side of it the

other side of the board meeting went like this look the stock market is an angry beast and we got to feed it and we have to feed it

profits and a thing called the PE ratio. How much we got? We got 3030 billion in cash. What if we take 15 billion of it and we invest in automation so we can keep the best people at 17 bucks an hour, but we can compete with Amazon that's automating and doing Amazon Prime and you can click on there

and you can get a tube of toothpaste and an hour to your front door.

I don't need Instacart, Amazon Prime, have you noticed that?

Some things they'll deliver in like in two hours.

If you order it now, it'll be at your front door

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