Sam’s Club Layoffs: Walmart to Cut 2,300 Jobs at Membership Club
by Christopher Freeburn | January 27, 2014 9:23 am
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.
Earlier this month, discount chain Target (TGT) said it would cut about 500 workers, mostly from its Minneapolis, Minn., headquarters.
WMT stock fell slightly in Monday pre-market trading. WMT stock has over the past year.
More Company Layoff News:
- HPQ Stock – Hewlett-Packard Plans 5,000 More Job Cuts
- Job Cuts Coming to Forest Labs
- December Jobs Report: U.S. Suffers Shocking Decline in Labor Growth
- announced a round of layoffs: http://www.usatoday.com/story/money/business/2014/01/24/wal-mart-laying-off-sams-club-workers/4839449/
- [Image]: http://investorplace.com/wp-content/uploads/2014/01/sams-club.jpg
- Wikipedia: http://en.wikipedia.org/wiki/Sam%27s_club/
- WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
- AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
- expand its online storefront to better compete with Amazon: http://investorplace.com/2013/10/walmart-ramps-up-efforts-to-become-online-king/#.UuZpa3n0CX0
- TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
- said it would cut about 500 workers: http://investorplace.com/2014/01/target-layoffs-job-cuts-will/#.UuZpH3n0CX0
- HPQ Stock – Hewlett-Packard Plans 5,000 More Job Cuts: http://investorplace.com/2014/01/hpq-stock-hewlett-packard-plans-5000-job-cuts/#.UuZoyHn0CX0
- Job Cuts Coming to Forest Labs: http://investorplace.com/2013/12/job-cuts-coming-forest-labs/#.UuZo_Hn0CX0
- December Jobs Report: U.S. Suffers Shocking Decline in Labor Growth: http://investorplace.com/2014/01/december-jobs-report-2014/#.UuZpq3n0CX0
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