Gleaned from FINS Morning Coffee Report – January 26, 2012

Farewell overnight greeters. A 30-year tradition put in place by Wal-Mart’s founder, Sam Walton, is being pushed out the door.

The retail giant has removed the doormen and doorwomen from their overnight shifts at the company’s U.S. supercenters, Bloomberg reported.

No more greeters will save the company money and enable the chain to rebalance its work force. Wal-Mart has been shifting its late-night greeters to other jobs for the past six months, David Tovar, a Wal-Mart spokesman told Bloomberg.

In a similar effort last year, Wal-Mart began turning to outside consultants to help keep its shelves stocked.

It seems traditions can only last so long after a company’s founder passes.