Walmart cuts back on seasonal workers for holidays

Inflation is expected to have a major impact on the way people shop this holiday season.
2:48 | 09/23/22

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Transcript for Walmart cuts back on seasonal workers for holidays
THE WEEKEND BEGINNING OF NEXT WEEK. >> IT SURE IS, THANKS. >>> WE TURN TO THE HOLIDAY SHOPPING SEASON. IT'S ALREADY RAMPING UP. WALMART ANNOUNCED IT PLANS TO HIRE FEWER SEASONAL WORKERS. REBECCA JARVIS HERE. >> Reporter: WE KNOW IT'S ONLY SEPTEMBER. BUT THIS IS SHAPING UP TO BE A VERY DIFFERENT KIND OF CHRISTMAS AS FAR AS THE ECONOMY IS CONCERNED. SHOPPERS ARE PULLING BACK ON SPENDING. RETAILERS ARE SITTING ON THESE GIANT BACKLOGS OF EXCESS MERCHANDISE AND SOME MAJOR RETAILERS ARE NOW HIRING FEWER SEASONAL EMPLOYEES. IT'S THE MOST WONDERFUL TIME OF THE YEAR TO FIND SEASONAL WORK FOR THE HOLIDAYS, BUT THIS YEAR MAY LOOK A LITTLE DIFFERENT THAN CHRISTMASES PAST. ♪ WALMART ANNOUNCING PLANS THIS WEEK TO HIRE 40,000 SEASONAL WORKERS. FAR FEWER THAN THE 150,000 IT HIRED LAST YEAR. >> FIRST OFF THEY ALREADY HAVE FAR MORE PERMANENT WORKERS THAN THEY HAD DURING THE LAST HOLIDAY SEASON. THEY'VE ALREADY WARNED THAT THEY'VE SEEN SOME SIGNS OF AMERICANS SPENDING LESS. >> Reporter: THE COUNTRY'S LARGEST PRIVATE EMPLOYER, LIKE ITS COMPETITORS, FACING GROWING PRESSURE FROM HISTORIC INFLATION WITH CONSUMERS CUTTING BACK ON BIG TICKET PURCHASES LIKE ELECTRONICS AND TVs AS THEY'RE FORCED TO SPEND MORE ON NECESSITIES LIKE FOOD. MANY RETAILERS NOW SCRAMBLING TO CUT COSTS ON THE EXCESS MERCHANDISE. >> INFLATION IS GOING TO HAVE A MAJOR IMPACT ON THE WAY THAT PEOPLE SHOP. WHEN YOU HAVE A SMALLER AMOUNT OF MONEY YOU ARE DEALING WITH, YOU WANT THAT DOLLAR TO GO FURTHER. >> Reporter: EVEN SHIPPING GIANT FEDEX WARNING OF A WORLDWIDE RECESSION, SIGNALING IT PLANS TO CUT COSTS AHEAD. AMID THE UNCERTAINTY A RETAIL SCRAMBLE TO GET YOUR ATTENTION FAST AND FIRST. ♪ TARGET ANNOUNCING ITS DEAL DAYS WILL KICK OFF OCTOBER 6th AND EXTENDING PRICE MATCHING FROM THEN UNTIL DECEMBER 24th. WHILE KOHL'S WILL HOLE ITS SECOND SEASONAL HIRING EVENT OCTOBER 13th TO FILL BOTH PART TIME AND FULL TIME POSITIONS. >> WE TALK ABOUT THESE SALES GETTING EARLIER AND EARLIER EACH YEAR AND THIS HAS TO DO WITH RETAILERS, SPECIFICALLY THIS YEAR, WANTING TO GET RID OF THE INVENTORY SO HOPEFULLY COME JANUARY 2023, THEY'LL HAVE A CLEAN SLATE. >> Reporter: SO HERE'S WHAT YOU NEED TO PREPARE FOR AS A SHOPPER. BE PREPARED FOR SUPER DEALS ON THE STUFF THAT HASN'T SOLD AND HARDER TO FIND MUST HAVE, WHATEVER IS ON THAT WISH LIST, BUY IT IF YOU SEE IT AND BE PREPARED FOR LONGER SHIP TIMES, GUYS, WITH ALL OF THE SNARLS GOING ON IN THE SYSTEM, IF YOU ARE A PROCRASTINATOR, YOU ARE NOT GOING TO BE IN LUCK AND WILL PAY MORE. I SAY THIS EVERY YEAR. EVERY YEAR I WAIT UNTIL THE LAST

This transcript has been automatically generated and may not be 100% accurate.

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