Curious about how many associates have their home loans with the bank Walmart owns and how that's going? So when you get laid off and cannot pay your home loan what do you tell your bank who is also another branch of the company you work for.
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@OP If you’re laid off, the bank holding your mortgage isn’t owned by your employer because you’re no longer employed. That said, it’s really not that big of a deal. A bank is a bank is a bank when it comes to servicing a mortgage.
@wx Going to correct that math, 500k X's 1000 is 500 million so actually half a billion, the gist of it stands in theory though none the less. If you're employee owes your bank a great amount of debt it's financially wise to take that into consideration before laying that employee off and potentially not only losing the employees labor and having to replace them but also putting the debt they owe your bank in jeopardy. If you're going to buy a house and you work for Walmart you might as well use the bank your employer owns, maybe it will help, maybe it won't.
@wp Now X's it by a few hundred or even thousand mortgages and the likelihood of laying off those associates would be a deterrent. Your talking 500k loans x's 1000, I believe half a trillion would be enough to raise a few eyebrows even at the highest level. Considering how they like to brag about having at or around 2 million employees this isn't out of the question. Those associates would have job security nobody else had admittingly or not by Walmart.
@wp SOLD ! I will buy that answer.
If you really want an answer ..... it's a decent theory that having an Arvest mortgage could prevent a layoff, but I don't think there's anything to to it.
For one, no one at work probably knows who your home lender is. And the person who would decide if you are laid off is probably so detached from dealings with the Board that they would not care to try to find out.
And most layoffs involve many months of pay/severance, in which case a responsible professional would decide whether to sell their house before they just stopped paying their mortgage.
If foreclosures became a big problem or common thing perhaps the Arvest folks would communicate to Walmart leaders that they weren't happy (this clearly has not happened yet), but it would probably be a general "hey maybe think through futute layoffs in terms of how people will be able to pay their mortgages". It wouldn't be a direct "if someone has an Arvest mortgage don't lay them off"
@m2 I simply can’t pass this up. Your question was, “What is a woman?”
According to the Gavin Newsom New World Dictionary:
Woman - (noun)
(1) life support system for a pu--y.
@kz Okay Mr. Walton, here's your profits for your Walmart Company and here's your profits for you Arvest bank. If Mr. Walton has a Walmart employee that has a home mortgage loan at his Arvest bank then Mr. Walton might think twice about including that employee in the next round of layoffs. You're dancing around this like you're on fire lol.
@km I believe you probably have no idea how banking and retail commerce work. There is absolutely no fiduciary connection between Arvest and Walmart as a corporation. Yup, maybe it’s not smart to work for Walmart and get a mortgage thru Arvest. You can fix all that by simply not working at Walmart or banking at Arvest. It makes no difference that both companies have Walton family ties.
@b3 Believe the point trying to be made here is, if a employee owes the company/family owned bank you work for a great amount of debt it's financially wise to not eliminate that persons job. On paper they might be two separate entities, in reality the debt is owed to the same family.
While Arvest is not a "branch" of Walmart, they do share the same owners, The Walton family and associates. The Walton Family also has significant investments and control of massive real estate and development firms in NWA.
How absolutely stupid and ignorant. Arvest is not a branch of Walmart. This just goes to show you stupidity knows no bounds.
@OP Seems this would/could/is a conflict of interest, since it's in the best interest of the Bank to not layoff someone who owes them 300k or 400k for a home loan or even a car loan etc. Would be interesting to see the statistics on whether or not the people who bank there and work there are last to be laid off. But sure they will say that's not part of the equation and is never considered when laying people off........riiiiiiiiight sure yeah uh huh.