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Wal-Mart cuts 2,300 jobs at Sam's Club [January 25, 2014] (Reuters) — Wal-Mart Stores Inc <WMT.N> said on Friday it had cut 2,300 jobs, or roughly 2 percent of the total workforce at its Sam's Club retail warehouse chain, its biggest round of layoffs since 2010. |
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The action follows a lackluster U.S. holiday
season and layoffs announced earlier this month from U.S.
retailers Macy's Inc <M.N>, J.C. Penney Co Inc <JCP.N> and
Target Corp <TGT.N>. Wal-Mart company spokesman Bill Durling said in a telephone
interview that the cuts will include hourly workers and
assistant manager positions. "We're trying to rebalance our resources," Durling said. Affected employees who are unable to find new positions at Sam's
Club or Wal-Mart will be eligible for severance, Durling said. Wal-Mart is scheduled to report results from its holiday quarter
on February 20. Shares in the world's biggest retailer closed
down 0.7 percent at $74.42 on a day when concerns over emerging
markets prompted a broad Wall Street sell-off. Macy's has said it plans to cut 2,500 jobs, or 1.4 percent of
its U.S. workforce, but it said it expects to add positions for
its growing online business, leaving overall staffing levels
unchanged at about 175,000. J.C. Penney said it would close 33 stores and eliminate 2,000
jobs as part of its efforts to return to profitability. For its
part, Target said it would cut 475 jobs at its headquarters and
other offices in Minnesota and will not fill 700 open positions
worldwide. (Reporting by Lisa Baertlein in Los Angeles; editing by Ken Wills) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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