What’s left of my optimism is waning

Ignore my previous slight optimism. Even Wal-Mart isn’t immune, and announced layoffs of 700-800 at the home office.

From the press release:

We expect the changes to impact approximately 700-800 Home Office positions including merchandising, real estate, marketing and support divisions in Walmart U.S., Sam’s Club merchandising and some corporate functions. The restructuring will not impact store and club operations.

Putting aside the measurable effects, the psychological effects of Wal-Mart, our perceived bulwark against economic downturn, laying off people will be significant on our local real estate market.