News of the closures comes on the heels of Walmart's Thursday announcement that it would raise the minimum wage of employees from $9 per hour to $11 per hour beginning February 1 in anticipation of benefits from the GOP tax bill.
"It's shocking", said Union County Freeholder Christopher Hudak, a Linden resident, adding that the Sam's Club website no longer lists the Linden store on East Linden Avenue that has been open for at least seven years.
The Sam's Club is set to close on January 26.
Stock within Investors Radar: Aetna Inc. (AET)
Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The New York-based Roanoke Asset Management New York has invested 0.15% in Aetna Inc. $2.47M worth of Aetna Inc.
United Kingdom workspace interiors manufacturer and distributor Dynamic Office Solutions expects to end the year on a high note after a significant investment in its warehouse facilities and e-commerce. Walmart hopes to find positions for displaced workers at other Sam's Club locations.
The store will reopen Friday before permanently closing in two weeks.
Customers and workers learned of the store closings the same day Walmart received praise from the Trump administration for increasing pay and giving worker bonuses due to the new cut in the corporate tax rate.
The company will look at opportunities to transfer Sam's Club employees to Walmart locations in Alaska, Garcia said.
Share Activity Lifted for Wmih Corp. (WMIH) Moving -0.97%
Taking current value along prior value is a smoothing technique similar to that used in calculating an exponential moving average. Maximum and minimum EPS estimate for the current quarter is projected at $0.41 and $0.15, respectively, according to 23 analysts.
Not all employees at the affected stores will be out of a job. "We need to make sure we have the right mix".
Despite the loyalty it engenders from members, Sam's Club has "underperformed peers" financially, according to Oliver Chen, an analyst with Cowen.
Sam's Club employees and its customers were not given advance notice of the cutbacks.
That's small consolation to people like Dharmendra Singh, a software engineer who so liked the feeling of exclusivity he enjoyed while shopping at Sam's Club that he never used his membership at BJ's. He and other members were shocked.
Delhi: NRI Google techie arrested for molesting U.S. woman
After her return from Jaipur , she complained against Kharbanda to the Chanakyapuri police station and hotel security. Following the complaint by the victim, Kharbanda was arrested from the hotel after being interrogated.