Sam’s Club Layoffs: Walmart to Cut 2,300 Jobs at Membership Club

by Christopher Freeburn | January 27, 2014 9:23 am

Sam’s Club Layoffs: Walmart to Cut 2,300 Jobs at Membership Club

Another discount retailer has announced a round of layoffs[1].

sams club 300x233 Sams Club Layoffs: Walmart to Cut 2,300 Jobs at Membership Club[2]
Source: Wikipedia[3]

Sam’s Club — owned by the nation’s largest retailer Walmart (WMT[4]) — 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[5]), 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[6].

Earlier this month, discount chain Target (TGT[7]) said it would cut about 500 workers[8], 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:

Endnotes:
  1. announced a round of layoffs: http://www.usatoday.com/story/money/business/2014/01/24/wal-mart-laying-off-sams-club-workers/4839449/
  2. [Image]: http://investorplace.com/wp-content/uploads/2014/01/sams-club.jpg
  3. Wikipedia: http://en.wikipedia.org/wiki/Sam%27s_club/
  4. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  5. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  6. expand its online storefront to better compete with Amazon: http://investorplace.com/2013/10/walmart-ramps-up-efforts-to-become-online-king/#.UuZpa3n0CX0
  7. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  8. said it would cut about 500 workers: http://investorplace.com/2014/01/target-layoffs-job-cuts-will/#.UuZpH3n0CX0
  9. HPQ Stock – Hewlett-Packard Plans 5,000 More Job Cuts: http://investorplace.com/2014/01/hpq-stock-hewlett-packard-plans-5000-job-cuts/#.UuZoyHn0CX0
  10. Job Cuts Coming to Forest Labs: http://investorplace.com/2013/12/job-cuts-coming-forest-labs/#.UuZo_Hn0CX0
  11. 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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