Last weekend, Katie and I stopped at both Sam’s Club and Costco to pick up some needs. On the way home, I asked her which club we should continue with when our memberships come due.
This was the first time we’d ever belonged to both and the first time we’d ever been members of Costco and only did so because of a gift membership.
Honestly, we weren’t sure which to pick, so we tabled the discussion.
This morning, the decision was made for us. Sam’s Club quietly closed 63 stores across the nation, seven of which were in Illinois alone. This includes our local store and the one by where I work.
We were discovering this happened as reports drizzled out on social media from deservedly angry former employees who, if they didn’t get a FedEx’d notice of their termination yesterday, found out when they arrived to work today to find store doors locked and, in some cases, police on hand to turn them away.
Stores re-open Friday to begin liquidation but these workers will all be out of a job come January 26. Sure they’re being paid through April, but what good is that when nearly all they know is retail and stores are going under by the hundreds?
What makes it worse is that Walmart, the parent company of Sam’s Club, tried to hide the closings under the announcement that Walmart stores were bumping minimum wage to $11/hour and they’d give select employees a $1,000 bonus.
Of course, to do this, they have to leave 9,500 people high and dry.
Still waiting to hear how shareholders and execs benefit from all this.