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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.


more Fashion News >>

Published 02-04-2010 by Amanda Torres Price



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