Pay attention, 11,200 jobs eliminated by Wal-Mart.
By Daniel at 25 January, 2010, 11:12 pm
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The fluff that this administration has been spreading is starting to get very thin. The jobless rate is skyrocketing again and homes sales are tanking big time. DOW 6,000 is right around the corner. Create jobs now, not free programs!!!
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SAN FRANCISCO (Reuters) - Sam’s Club, the warehouse club division of Wal-Mart Stores Inc is cutting roughly 11,200 jobs, or about 10 percent of its workforce, as it outsources in-store product demonstrations and eliminates positions used to recruit new business members.
Sam’s Club Chief Executive Officer Brian Cornell said on Sunday that the retailer would outline charges associated with the job cuts in February, when it releases fourth-quarter results. He said he did not expect any “material impact” on its financial results.
“We look at this as an investment in the in-club experience,” Cornell said in an interview. “This is not a cost-cutting move for us in the short term. We really hope it will be cost neutral for our operation. It’s an investment in building loyalty, enhancing the member experience and driving future growth.”
Cornell took the helm at Sam’s Club on April 3 last year and has been looking for ways to boost its sales and increase its membership ranks. Members pay an annual fee to shop in its clubs and get discounts on everything from bulk-sized packages of toilet paper to raspberries.
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