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Wal-Mart to Cut 800 Corporate Jobs

10 Feb, 2009 By: Erik Gruenwedel


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Wal-Mart Stores, one of the few retailers to prosper during the current recession, Feb. 10 said it would eliminate between 700 and 800 positions at its corporate headquarters in Little Rock, Ark.

Citing the declining economy and a decision to scale back the number of new store openings this year, the world’s largest retailer of DVDs said the job cuts would occur in its real estate, apparel and health and wellness departments.

"Obviously, we don't need as many people to do the work to site a new store, to build a new store," spokesman David Tovar told The Associated Press.

The cuts come just days after Wal-Mart said January same-store sales (open at least 12 months) increased 2.1%, compared to 0.2% during the previous-year period. Revenues at U.S. Wal-Mart stores (excluding Sam’s Club) increased 6.1% to $17.9 billion from $16.9 billion last year.

Wal-Mart employs more than 2 million people globally, including 14,000 personnel at its headquarters.

 


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