Activists from the Making Change at Walmart campaign greeted investors at Walmart’s international investors and analysts meeting held in Toronto from April 11 to 12.
The Making Change at Walmart activists passed out fliers highlighting how Walmart’s poor business practices have curbed their ability to grow globally and continue to represent challenges to growth in India, South Africa and urban communities in the US., as highlighted in a recent opinion piece by UFCW Canada National President Wayne Hanley featured in the Hamilton Spectator.
Many investors and analysts are showing increasing interest in labour issues due to a number of recent events. In January, ABP, the Netherlands’ largest pension fund, pulled their investments in Walmart due to poor labour practices. ABP officials said that they were struck by the inordinately high number of lawsuits and complaints filed against Walmart.
A few weeks ago, Wharton School and Harvard Business studies made headlines by demonstrating that good staffing practices are also good business. These findings fly in the face of Walmart’s traditional model of slashing expenses through minimizing staffing and stretching existing employees.
To find out more about Making Change at Walmart, go to www.makingchangeatwalmart.org.