Jan 24 Wal-Mart Stores Inc 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, J.C. Penney Co Inc and Target Corp.
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
Wal-Mart is scheduled to report results from its holiday
quarter on Feb. 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.