Labor Claims a Victory After Walmart Investors Pull Out

Claire Gordon

As Walmart continues to dismiss a mounting labor movement in its stores as marginal and baseless, some large Walmart investors don't appear convinced. In one of the biggest victories yet for labor activists targeting Walmart, two large European pension funds have announced that they would no longer invest in the world's largest retailer.

Dutch pension managers PGGM and Mn Services declared in quick succession this week that they would divest from Walmart, claiming that the company does not treat its employees in accordance with international standards of freedom of association, and has failed to respond to their concerns.

"We respect when someone buys or sells our shares. That's an individual decision," Walmart spokesman Randy Hargrove told AOL Jobs, adding over email that "our associates have chosen to remain union-free."