Wal-Mart's cuts 2,300 jobs at Sam's Club

Fri Jan 24, 2014 6:45pm EST

The Walmart logo is pictured at its store in the Porter Ranch section of Los Angeles November 26, 2013. REUTERS/Kevork Djansezian

The Walmart logo is pictured at its store in the Porter Ranch section of Los Angeles November 26, 2013.

Credit: Reuters/Kevork Djansezian

(Reuters) - Wal-Mart Stores Inc (WMT.N) said it cut roughly 2 percent of total employees, or about 2,300 jobs, at its Sam's Club retail warehouse chain on Friday, its biggest round of layoffs since 2010.

The action comes on the heels of 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).

In a review of operations that began before the holiday season, Sam's Club found that its workforce was the same size, regardless of the revenue reaped by the business, company spokesman Bill Durling said in a telephone interview.

The cuts will include hourly and middle management positions.

"We're trying to rebalance our resources," Durling said.

Affected employees who are unable to find new positions at Sam's Club or Walmart will be eligible for severance, Durling said.

Wal-Mart is scheduled to report results from its holiday quarter on February 20.

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 around 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. And, 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)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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