Wal-Mart's cuts 2,300 jobs at Sam's Club
(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)
- First Ebola victim in Sierra Leone capital on the run
- Former WWE champ nabs suspected burglar in Arizona
- Apple iPhones allow extraction of deep personal data, researcher finds
- EU edges to economic sanctions on Russia but narrows scope |
- China's Guangdong province removes over 850 'naked officials' from their posts