Wal-Mart eliminates corporate jobs

Zacks has reported that Wal-Mart Stores Inc. is laying off a number of employees this month in its international and technology businesses and at Sam's Club Warehouse chain. According to The Wall Street Journal, the move is part of Wal-Mart's plan to lower expenses, owing to rising costs.

The company has been seeing increased costs due to investments in their e-commerce business. They are taking a conscience effort to maintain their low prices while streamlining stores.

Last September, Wal-Mart announced that it would be cutting 7000 office jobs in mostly accounting and invoice positions. The cutbacks were part of their reduction plan for the West Coast. The company has said that office jobs would be cut at each of their 500 stores in mostly West Colorado.

Wal-Mart reduces number of corporate employees

"As we said in January, to fuel our growth and our investments we have to manage our costs and our capital decisions with discipline," Wal-Mart spokesman Randy Hargrove said to Business of Fashion. "This means we will continue to find ways to operate more efficiently and effectively."

In January, the company announced they would cut 1000 jobs, mostly in the Human Resources department.

As the nation's largest retailer, the elimination of jobs sends a disturbing signal to America. Given the recent jobs report where the economy only added 98,000 jobs in March, this could be a sign that the nation is entering another recession.

Retail jobs are also being lost left and right with stores closing faster than ever. It's the spring of discontent for retail stores this year.

photo: via Corporate.walmart.com