Walmart Inc. is making Toronto one of a pair of new global tech hubs, with plans to hire hundreds of workers at the two sites.
The retail giant says it chose Canada’s largest city and Atlanta, Ga. as hubs because of their growing tech sector presence and their broad and diverse local talent pools.
“We are excited to join the vibrant and diverse tech communities in Toronto and Atlanta,” said Suresh Kumar, chief technology officer and chief development officer at Walmart.
“Work from these new hubs will impact millions of lives and transform the future of retail.”
The initial hiring phase in Toronto will include 45 full-time roles in software development, technical program management and product management. Initial hiring in Atlanta is expected to include 140 new full-time roles.
Walmart says deploying the latest technology is part of a $3.5 billion investment for Canada announced in 2020 to make the online and in-store experience simpler, faster and more convenient for its customers.
The company also says that the development of this technology hub will keep homegrown tech talent in Canada.
The expansion is part of Walmart Global Tech’s plan to hire more than 5,000 employees globally this fiscal year.
The addition of Toronto and Atlanta will increase the number of Walmart Global Tech hubs to 16, including Seattle and Chennai, India that launched last year. The number of global tech employees increased 26 per cent last year to 20,000.
“Canada has a dynamic and world leading tech community powered by talented people and innovation that is recognized on a global scale,” stated Nicolai Salcedo, chief technology and data officer of Walmart Canada in a news release.
Walmart’s 2020 decision to spend $3.5 billion in Canada over five years came as the COVID-19 pandemic accelerated e-commerce trends and altered the way people shopped.
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Canadians are more familiar with online shopping than they were in 2019, and retailers are expanding their offerings through capsule collections, resale agreements and other initiatives.
The aim of Walmart’s Toronto tech hub investment is to keep up with these changes and boost the company’s presence in Canada, the company said.
The investment also includes the renovation of 150 stores.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
