Labor & Employment

Rob Walton relinquished the position of chairman of the board of directors of Wal-Mart Stores, Inc., to his son-in-law, Greg Penner, at the company annual meeting on June 5.

The move to elevate Penner to the new role didn’t come as huge shock since the stage had been set for the move at Walmart’s annual meeting last year when Walton, 70, announced Penner had been named the board’s vice chairman. Walton has served as chairman of the board since 1992 the same year that his father and company founder Sam Walton died. He will continue to serve on the board.

Oak Brook, Ill. - The Inland Real Estate Group Inc. is naming Prashant Bodhanwala, 48, as chief accounting officer, overseeing accounting, financial strategic planning and financial analyses for Inland. Bodhanwala most recently served as VP of accounting for CA Ventures LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll.

Walmart has unveiled upcoming changes to its website, stores and employee badges ahead of today's shareholders' meeting in Bentonville, Ark.

According to the Northwest Arkansas Democrat Gazette, Walmart execs told a meeting of employees on Wednesday that it plans to spend at least $1.5 billion in upgrades to its e-commerce sites, store design and employee name badges.

New York – Top management continues to leave Lumber Liquidators Holdings Inc. in the wake of accusations the retailer sold Chinese hardwood laminate products that had illegal levels of formaldehyde. Ray Cotton, chief compliance officer of Lumber Liquidators, has resigned from the company.

According to Fortune, CEO Doug McMillon may be the best prepared executive to lead the company since Sam Walton.

The magazine details how McMillon is guiding the retail giant in the Age of Disruption.

Read more by clicking here.

Minneapolis – The corporate restructuring that has led Target Corp. to lay off 17.600 Canadian workers and 2,200 U.S. workers has reportedly hit the retailer’s Indian operation. According to the Minneapolis/St. Paul Business Journal, Target has laid off 180 Indian employees and closed 125 open positons in India this week.

Target has pledged to eliminate several thousand positions, many from its corporate headquarters in Minneapolis, as part of a $2 billion restructuring plan instituted by CEO Brian Cornell.

 

Washington, D.C. - A majority of hiring managers across all U.S. industries view retail experience positively and value the foundational job skills that retail instills in its employees. According to the new “Retail’s Value on a Resume: How Jobs in Retail Prepare America’s Workforce for Success” study from the National Retail Federation (NRF), 69% of those surveyed said retail workers have the skills and qualities they look for when hiring.

San Jose – A new privacy policy which will take effect at PayPal Inc. on July 1 will require users to allow PayPal, its affiliates and service providers to contact them at provided telephone numbers via autodialed or prerecorded call or text message. While the policy prohibits PayPal from sharing user contact information with outside third parties, contracted billing and collection companies are permitted to use customer phone numbers.