Wal-Mart plans to cut hundreds of jobs this month

Wal-Mart Stores Inc (WMT.N) 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.

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 said.

"While we continually look at our corporate structure, we have not made any announcements," Wal-Mart spokesman Randy Hargrove said in an email.

RELATED: Notable stores that no longer exist like they used to:

8 PHOTOS
Notable stores that no longer exist like they used to
See Gallery
Notable stores that no longer exist like they used to
Signage is displayed at a Filene's Basement store in Chicago, Illinois, U.S., on Wednesday, Nov. 16, 2011. Bankrupt discount-clothing retailer Syms Corp. and its Filene's Basement LLC unit won court approval to conduct going-out-of-business sales to liquidate their inventory. Photographer: Tim Boyle/Bloomberg via Getty Images
A Circuit City store is seen in Dallas, Texas in this file photo taken June 19, 2008. U.S. electronics retail chain, Circuit City is considering closing at least 150 stores and cutting jobs, the Wall Street Journal said on October 20, 2008, citing people familiar with the company. REUTERS/Jessica Rinaldi/Files (UNITED STATES)
NORRIDGE, IL - JANUARY 30: KB Toys signage is visible atop the entranced to its store January 30, 2004 in Norridge, Illinois. Pittsfield, Massachusetts-based KB Toys says it will close 375 stores nationwide including this Norridge, Illinois store. (Photo by Tim Boyle/Getty Images)
ALEXANDRIA, VA - AUG 14: An Ames Department Store stands August 14, 2002 in Alexandria, Virginia. Ames Chairman and CEO Joseph R. Ettore in announced that the discount chain would close all 327 store locations leaving 22,000 unemployed. (Photo by Mike Theiler/Getty Images)
The Blockbuster movie rental store is open for business in the Denver suburb of Broomfield, Colorado April 6, 2011. Dish Network Corp won Blockbuster Inc in a bankruptcy auction for about $320 million, boosting the satellite TV provider's online features and marketing reach. Dish, the second-largest U.S. satellite TV company after DirecTV, trumped at least three other bidders, including activist investor Carl Icahn, for the one-time leader in video rentals. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS)
A Sports Authority store is shown in Encinitas, California on March 2, 2016. Sports Authority Inc. said it had filed for Chapter 11 bankruptcy protection and hired liquidators to begin closing up to 200 of its 463 locations. REUTERS/Mike Blake
Customers walk into the Hollywood Video store that is scheduled for closing in Springville, Utah, U.S., on Wednesday, May 12, 2010. Movie Gallery Inc., the owner of Hollywood Video stores, plans to shutter operations and liquidate assets after filing for bankruptcy for the second time since 2007. Photographer: George Frey/Bloomberg via Getty Images
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

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 boost sales.

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 afternoon trading.

(Reporting by Sruthi Ramakrishnan in Bengaluru: Editing by Sriraj Kalluvila and Maju Samuel)

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.