Three-hundred local layoffs at Bentonville Walmart's Home Office are making some nervous in Northwest Arkansas.
Some residents worry the layoffs mean a downward dent for the area's economy.
Bentonville Chamber President and CEO Ed Clifford says he knows the layoffs are bad news for the families left without work. "I know that in Northwest Arkansas, 300 people don't have a job today that did have a job last week. For the long-term future of Northwest Arkansas, a very strong Walmart is what we need to have happen."
Over 700 Walmart Home Office workers lost their jobs last February, and only a month ago, another 11,200 jobs were cut at Sam's Club Warehouses across the country. That wasn't the end of layoffs for Walmart workers in Bentonville. Today's announcement put 300 more jobs on the chopping block, at the corporate level, making some worried.
Clifford says, "it affects the psyche a little bit. It's an anchor industry that we can't afford to be weak."
While some say they fear this could start a layoff ripple effect through the Northwest Arkansas economy, U of A Economist Kathy Deck says, that's not the case. "You can't expect for Walmart, in an economic situation like we find ourselves now, for Walmart to not do anything restructuring-wise - to not be strategic in its planning and future moves."
Deck says the layoffs could actually draw new business to the area. "You now have a great talent pool that other companies can poach from, and so it may make Northwest Arkansas more attractive to employers who want to do business with Walmart or are in the retail sector."
But Clifford says shopping may still be sluggish, for a season. "For a couple of months, I think that everybody will be a little bit more conservative with what they do with their money, and we'll see how that goes."
Some residents worry the layoffs mean a downward dent for the area's economy.
Bentonville Chamber President and CEO Ed Clifford says he knows the layoffs are bad news for the families left without work. "I know that in Northwest Arkansas, 300 people don't have a job today that did have a job last week. For the long-term future of Northwest Arkansas, a very strong Walmart is what we need to have happen."
Over 700 Walmart Home Office workers lost their jobs last February, and only a month ago, another 11,200 jobs were cut at Sam's Club Warehouses across the country. That wasn't the end of layoffs for Walmart workers in Bentonville. Today's announcement put 300 more jobs on the chopping block, at the corporate level, making some worried.
Clifford says, "it affects the psyche a little bit. It's an anchor industry that we can't afford to be weak."
While some say they fear this could start a layoff ripple effect through the Northwest Arkansas economy, U of A Economist Kathy Deck says, that's not the case. "You can't expect for Walmart, in an economic situation like we find ourselves now, for Walmart to not do anything restructuring-wise - to not be strategic in its planning and future moves."
Deck says the layoffs could actually draw new business to the area. "You now have a great talent pool that other companies can poach from, and so it may make Northwest Arkansas more attractive to employers who want to do business with Walmart or are in the retail sector."
But Clifford says shopping may still be sluggish, for a season. "For a couple of months, I think that everybody will be a little bit more conservative with what they do with their money, and we'll see how that goes."
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