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Business - KSYL-AM

In this Nov. 24, 2023, file photo, a Walmart store is shown on Black Friday, in Secaucus, New Jersey. (Bloomberg via Getty Images)(NEW YORK) -- In an exclusive and far-reaching interview with ABC News, John Furner, president and CEO of Walmart U.S., talked about the retail giant’s push to hire more non-college degree workers for high-paying corporate jobs at the company.Currently, 75% of Walmart’s salaried managers began as hourly associates. High-performing Walmart managers at the store’s Supercenters now have the ability to earn more than $400,000 a year, which includes a new stock grant rewards program. Some of those managers have college degrees, while others do not -- it is not required for the job.“While college is great for some, it’s not exactly the right answer for everyone,” Furner told ABC News.This year, Walmart says it has doubled the number of skills certificates it offers to help people move into higher-paying careers within the company, such as software engineers, data scientists, and opticians. Walmart says certificate programs take associates about four months on average to complete, compared to years for a degree.“Let's say you wanted to be a technician and work on HVAC, or if you wanted to be a truck driver, or robot tech, or a pharmacy tech. We have those programs where you can do that on the job while you're working, and they lead to great careers,” Furner said.Businesses are increasingly removing college degree requirements from some job descriptions and shifting to skills-based hiring. But a recent report from the Burning Glass Institute and Harvard Business School found that most companies that say they are adopting skills-first hiring are not actually translating that into practice.The report found that Walmart was among the 37% of firms analyzed that, on average, hired 18% more non-degree workers for roles for which they removed the requirement for a college degree. Other so-called skills-based hiring leaders included Apple, Cigna, ExxonMobil, General Motors, Target, Tyson Foods, and Yelp.In a first for the company, Walmart hosted an Opportunity Summit in Washington, D.C. this month, where it brought together executives from over a dozen major companies -- including Accenture, Home Depot, McDonald’s, PepsiCo and Verizon -- to discuss how they can coordinate efforts and make good on their promise to offer higher-paid jobs to non-degree workers.The shift to skills-based hiring comes as the cost of a college education continues to rise. Boston University, Tufts and New York University are among the schools that now cost nearly $100,000 a year to attend.“A lot of the skills that we're talking about are also applicable across a number of companies in a number of industries,” said Furner. “What we hope for is that our associates learn more and stay with us, but we know sometimes they're going to go on to other things, and if they can take those skills with them collectively, we'll all be better off.”Job growth is expected to continue at Walmart as it looks to open its first new stores in three years. The retailer plans to open 150 new stores and remodel 650 existing locations over the next five years.Retail theft and the future of self-checkoutFurner acknowledged that the prevalence of shoplifting and organized retail crime across the country remains a challenge for retailers of all sizes. He says shrinkage -- the industry term for merchandise loss due to theft -- has increased at Walmart over the past two years. In response, the big-box retailer has been selectively removing self-checkout counters from some locations where there are more instances of shoplifting and mis-scanned items, but Furner told ABC News that self-checkout is not going away at Walmart.“There are a few stores where we've made the decision that they'll come out of, but we haven't made that decision in every store,” he said. “Over the next few years, we're really going to lean into new types of technology that can make the checkout process even better for customers.”Target recently announced it would limit the number of items shoppers can buy at self-checkout lanes, while Dollar General plans to pull self-checkout counters from 300 of its stores.“For the industry, the concern is it causes prices to go up and it can cause stores to close,” Furner said of the problem. “Retailers need to work with state and local law enforcement, with federal enforcement to keep our communities safe for our customers and to keep the cost of goods down.""Deflation" is showing up at WalmartOn the inflation front, Furner says he continues to see improvement: “At Walmart, we are now seeing prices that are in line with where they were 12 months ago. I haven’t been able to say that for a few years now.”Furner also sees deflation in big categories like general merchandise, where some prices are below where they were a year ago. “The last few weeks, we've taken even more prices down in areas like produce and meat and fresh food," Furner said.Yet despite a recent rise in overall inflation in the past three months, Furner says he remains optimistic.“What I've learned in the last few years is, it's really hard to predict," Furner said. "I’m feeling much better about inflation in terms of pricing versus a year ago, but we're not finished.”Copyright © 2024, ABC Audio. All rights reserved.

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Awareness month highlights sexual assault, alcohol misuse on campus

It is no coincidence that Sexual Assault Awareness month and Alcohol Awareness month fall at the same time.

Stillwater-medical-center , Oklahoma , United-states , Stillwater , Payne-county , Oklahoma-state-university , Melissa-walters , Oklahoma-state-bureau-of-investigation , National-library-of-medicine , University-counseling-services , Stillwater-police-department , Sexual-assault-response-team

Suncor Energy Inc. (NYSE:SU) Stock Position Decreased by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,608 shares of the oil and gas producer’s stock after selling 618 shares […]

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Pistol Pete 97, 98 selected

About seven hours after they walked through the door, Cooper Hamilton and Braden Smith knew they would be the next Pistol Petes.

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Students, alumni visit capitol for 3rd Capitol Cowboys day

On Wednesday, groups of students dressed in “America’s Brightest Orange” flocked to the Capitol.

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Iowa State closing DEI office, removing 5 positions

Last year, the Board of Regents issued 10 DEI directives to cut back spending at the state's public universities. The DEI office at ISU will close in July, and five positions will be removed.

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Ukraine's Security Service called Belarusian threats to Kyiv hospitals a psyop

The Ukrainian Security Service urged people to interpret Belarusian officials' remarks about the imaginary terrorists in Kyiv hospitals as a manifestation of information and psychological special operations.

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Kari Lake confronted about abortion flip-flops at ASU campaign event

The U.S. Senate candidate avoided talking abortion at an Arizona State University event — until a young Republican called out her constant flip-flopping.

Arizona , United-states , New-york , Idaho , Arizona-state-college , Tempe , Washington , Virginia , Donald-trump , Us-senate , Us-centers-for-disease , Arizona-state-college-republicans

Syon Capital LLC Acquires 10,427 Shares of Suncor Energy Inc. (NYSE:SU)

Syon Capital LLC grew its position in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 92.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,724 shares of the oil and gas producer’s stock after acquiring an additional 10,427 shares during […]

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Home improvement project? Call 811 before you dig

(COLORADO SPRINGS) — Spring is a popular time for home improvement and landscaping projects, and Xcel Energy and Colorado Springs Utilities (Springs Utilities) want to remind people to always call 8-1-1 before digging. Xcel Energy said digging without locating utility lines causes injuries, loss of life, and property damage every year, and can lead to […]

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