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Round of retail job cuts
The latest of retail job cuts to start off the new year.
Walmart announced on Friday that about 2,300 Sams Club employees would be laid off. The layoffs would target a combination of salaried assistant managers and hourly employees, said spokesman Bill Durling.
What were trying to do is balance our resources.
Sams Club has about 116,000 employees, and the job cuts will affect about four employees a store. They will have 60 paid days to find another job at the company. If they are not successful, they will be eligible for severance.
Over the course of the next fiscal year, Sams Club will be opening at least 15 new stores.
Target has also announced that it would cut approximately 475 jobs, due to the enormous breach of customer data that has affected as many as 110 million people.
J.C. Penney plans to close 33 stores and cut about 2,000 jobs. The company continues to struggle after several tumultuous years of flux in its management and its strategy.
Macys announced the company would lay off 2,500 employees, despite performing better than many of its competitors in recent months.