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current news

Wal-Mart Cuts 300 Jobs

(Filed Under Fashion News). Despite expected success from its new alliance with Li & Fung, Wal-Mart Stores Inc. continues to streamline its staff. Mike Duke, president and chief executive officer of the company, informed employees in a memo on Wednesday that the company will cut approximately 300 jobs in its Bentonville, Ark. headquarters, primarily in the corporate support arena.

Duke wrote: “As core part of our culture is to continually look for ways to be more efficient — to operate for less so we can sell for less. Last fall, we laid out three strategic priorities to deliver even more value for both customers and shareholders: growth, leverage and returns.”

This comes on the heels of January news that the company will close approximately 11 Sam’s Club stores in California, resulting in approximately 11,000 job losses.

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Published 02-04-2010 by Amanda Torres Price

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