(Adds company's comment, shares)
Jan 10 Wal-Mart Stores Inc plans to cut
hundreds of jobs before the end of January, the Wall Street
Journal reported, citing people familiar with the situation.
The Bentonville, Arkansas-based retailer plans to eliminate
jobs at its headquarters and regional personnel that support
stores, according to the report. on.wsj.com/2jroYGF
Many of the eliminations will affect Wal-Mart's human
resources department, a large team that some senior executives
believe should be more efficient or whose duties could be
handled by outside consultants, the newspaper reported.
Other departments could be affected as well, the report
"While we continually look at our corporate structure, we
have not made any announcements," Wal-Mart spokesman Randy
Hargrove said in an email.
The company said in September it would cut about 7,000
back-office jobs, mostly in accounting and invoicing positions
at its U.S. stores, as part of a program it announced in June.
The job cuts followed the company's plans to invest $2.7
billion in programs that involve training its workforce and a
series of wage hikes that took the minimum hourly pay for store
workers to $10, part of efforts to improve service at stores and
The company has also been investing to increase e-commerce
sales and improve stores. These measures helped the company
report strong online sales growth and a smaller-than-expected
decline in earnings for the third quarter despite comparable
store sales coming in below estimates.
Wal-Mart's shares were down marginally at $68.48 in
(Reporting by Sruthi Ramakrishnan in Bengaluru: Editing by
Sriraj Kalluvila and Maju Samuel)