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

Fri Jan 24, 2014 7:20pm 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 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.

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 Walmart 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)

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Comments (9)
Harry079 wrote:
Wow, the economy is really really picking up!

Even the sucky jobs are getting laid off.

Jan 24, 2014 11:43pm EST  --  Report as abuse
foramnifera wrote:
Ah, more signs of an improving economy. It’s a new strategy by the Obama administration; negative results are good—you just don’t understand how it all works. “Trust me”; “I need more time”; “Michelle, go out and buy stuff to show people how it’s done”; and the old standby, “It’s all Bush’s fault”.

Jan 25, 2014 12:00am EST  --  Report as abuse
RJDAVIS10 wrote:
AND THEY SAY THE ECONOMY IS GETTING BETTER?… iS THIS PROOF?. im just wondering when its going to get soooooooooooo bad that people decide to start telling the truth..!!!!!!!!!!!!

Jan 25, 2014 12:24am EST  --  Report as abuse
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