Wal-Mart Cuts Several Hundred Jobs -- Update
April 11 2017 - 6:56PM
Dow Jones News
By Sarah Nassauer
Wal-Mart Stores Inc. is cutting hundreds of corporate jobs this
month, following similar layoffs earlier this year, as the retail
giant looks for ways to save as it spends billions to improve its
e-commerce operations and existing stores.
The cuts fell broadly Tuesday and over the past few days on the
international side of Wal-Mart's business, as well as its
technology group and at its warehouse chain Sam's Club, according
to people familiar with the matter.
Wal-Mart's chief executive Doug McMillon has told analysts that
the company's efforts to compete with Amazon.com Inc. would mean a
renewed commitment to low-cost operations, including some
layoffs.
The move adds to a string of job cuts and layoffs over the last
year. Earlier this year Wal-Mart cut about 1,000 corporate jobs,
including 200 in its e-commerce department.
Since early 2016, Wal-Mart has cut more than 18,000 U.S. jobs
through closing stores, trimming staffing at some store locations
and cutting jobs at its headquarters. Around 11,000 of those
employees found different jobs within the company, a spokesman
said.
In a statement, Wal-Mart said "we will continue to find ways to
operate more efficiently and effectively, true to our
cost-conscious heritage. In order to achieve this, from time to
time you'll see the company eliminate positions in an effort to
stay lean and fast."
Write to Sarah Nassauer at sarah.nassauer@wsj.com
(END) Dow Jones Newswires
April 11, 2017 18:41 ET (22:41 GMT)
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