Scale Back: Wal-Mart cuts 2,300 jobs
Wal-Mart spokesperson Bill Durling said that the cuts will include hourly workers and assistant manager positions.
SAN FRANCISCO:
Wal-Mart Stores said that it has cut 2,300 jobs, approximately 2% of the total workforce at its Sam’s Club retail warehouse chain, which is its biggest round of layoffs since 2010. The action follows a lackluster US holiday season and layoffs announced earlier this month from US retailers. Wal-Mart company spokesperson Bill Durling said that the cuts will include hourly workers and assistant manager positions. “We’re trying to rebalance our resources,” he said, adding that affected employees who are unable to find new positions at Sam’s Club or Walmart will be eligible for severance. 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. Meanwhile Macy’s Inc, a US retailer, said that it also plans to cut 2,500 jobs – 1.4 percent of its US workforce, but it said it expects to add positions for its growing online business.
Published in The Express Tribune, January 26th, 2014.
Wal-Mart Stores said that it has cut 2,300 jobs, approximately 2% of the total workforce at its Sam’s Club retail warehouse chain, which is its biggest round of layoffs since 2010. The action follows a lackluster US holiday season and layoffs announced earlier this month from US retailers. Wal-Mart company spokesperson Bill Durling said that the cuts will include hourly workers and assistant manager positions. “We’re trying to rebalance our resources,” he said, adding that affected employees who are unable to find new positions at Sam’s Club or Walmart will be eligible for severance. 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. Meanwhile Macy’s Inc, a US retailer, said that it also plans to cut 2,500 jobs – 1.4 percent of its US workforce, but it said it expects to add positions for its growing online business.
Published in The Express Tribune, January 26th, 2014.