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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Walmart Inc | NYSE:WMT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.03 | 0.05% | 59.85 | 60.00 | 59.39 | 60.00 | 11,118,581 | 00:24:38 |
From May 2019 to May 2024
By Sarah Nassauer
Wal-Mart Stores Inc. CEO Doug McMillon said 450 people will be laid off at the company's headquarters in Bentonville, Ark., according to a memo sent to all Wal-Mart staff today.
"After months of evaluation, we've concluded there is an opportunity to better position our Home Office teams to move with speed and purpose," Mr. McMillon wrote in the memo. The company is at "an important time in our history," he said. "This in part means pulling back in some areas and investing in others."
Laid-off employees will receive 60 days of pay, plus two weeks of pay for every year of employment with the company, said a Wal-Mart spokesman. Job search assistance will be available for those who want it, he said.
The Wall Street Journal had reported this week that the company was preparing a round of layoffs at its headquarters.
Shares of Wal-Mart slid 1% in morning trading amid a broader market selloff.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 02, 2015 10:48 ET (14:48 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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