Another discount retailer has announced a round of layoffs.
Sam’s Club — owned by the nation’s largest retailer Walmart (WMT) — plans to trim its workforce by 2%. Sam’s Club will shed 2,300 jobs, including salaried associates and middle management positions. The layoffs are hoped to reduce costs and boost the ability of Sam’s Club to respond to Internet-based retailers like Amazon (AMZN), USA TODAY notes.
In 2010, Sam’s Club cut 10,000 workers. Sam’s Club currently employs about 116,000.
Walmart has been moving to expand its online storefront to better compete with Amazon.
WMT stock fell slightly in Monday pre-market trading. WMT stock has over the past year.
More Company Layoff News: