Wal-Mart Stores (WMT +0.17%) isn’t planning to hire more than 100,000 veterans over the next five years out of the goodness of its heart, but that is not necessarily a bad thing.
As Matthew Yglesias at Slate notes, “Wal-Mart is anticipating that demand conditions will warrant them adding a fair amount of staff over the next few years and that honorable service in the military is a good screening device.”
Wall Street didn’t have much response to the program, which goes into effect Memorial Day along with a pledge to buy an additional $50 billion in U.S.-made goods over the next decade. Shares of Wal-Mart, whose offer is only open to those with honorable discharges, barely budged Tuesday.
Derek Thompson at the Atlantic argued that Wal-Mart has been besieged lately by negative news such as the bribery scandal in Mexico and certainly could use some positive public relations. He also noted that Wal-Mart, like many retailers, has a huge turnover, so promising 100,000 veterans a job isn’t as generous of an offer as it may seem. Veterans of the wars in Iraq and Afghanistan, though, could certainly use the help.
Choosen excerpts by Job Market Monitor from
via Why Wal-Mart is hiring so many veterans- MSN Money.
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