Wal-Mart’s cuts 2,300 jobs at Sam’s Club

The Walmart logo is pictured at its store in the Porter Ranch section of Los Angeles November 26, 2013. REUTERS/Kevork Djansezian

Wal-Mart Stores Inc (WMT.N) said on Friday it had cut 2,300 jobs, or roughly 2 percent of the total workforce at its Sam’s Club retail warehouse chain, its biggest round of layoffs since 2010.

The action follows a lackluster U.S. holiday season and layoffs announced earlier this month from U.S. retailers Macy’s Inc (M.N), J.C. Penney Co Inc (JCP.N) and Target Corp (TGT.N).

Wal-Mart company spokesman Bill Durling said in a telephone interview that the cuts will include hourly workers and assistant manager positions.

“We’re trying to rebalance our resources,” Durling said.

Affected employees who are unable to find new positions at Sam’s Club or Walmart will be eligible for severance, Durling said.

Wal-Mart is scheduled to report results from its holiday quarter on February 20. Shares in the world’s biggest retailer closed down 0.7 percent at $74.42 on a day when concerns over emerging markets prompted a broad Wall Street sell-off.

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