Wal-Mart to Cut 450 Jobs at Headquarters
October 02 2015 - 10:50AM
Dow Jones News
Wal-Mart Stores Inc. CEO Doug McMillon said 450 people will be
laid off at the company's headquarters in Bentonville, Ark.,
according to a memo sent to all Wal-Mart staff today.
"After months of evaluation, we've concluded there is an
opportunity to better position our Home Office teams to move with
speed and purpose," Mr. McMillon wrote in the memo. The company is
at "an important time in our history," he said. "This in part means
pulling back in some areas and investing in others."
Laid-off employees will receive 60 days of pay, plus two weeks
of pay for every year of employment with the company, said a
Wal-Mart spokesman. Job search assistance will be available for
those who want it, he said.
The Wall Street Journal had reported that the company was
preparing a round of layoffs at its headquarters.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 02, 2015 10:35 ET (14:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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