Retail Shares sink as Walmart cuts jobs

Retail Shares sink as Walmart cuts jobs
by Kristi Ellis and Matthew Lynch with contributions from Arnold J. Karr and Liza Casabona
posted Tuesday February 11,2009
www.wwd.com

Although Wal-mart is doing considerably better than its competitors, in fact they have not really bean affected by the recession that much, they have cut 800 jobs at its headquarters in Bentonville, Arkansas. Mainly in the apparel buying operations department, and will be moved to New York. While employees were layed off they still have the chance to reapply for thier previous jobs owned in Bentonville in New York.
The company feels that it makes sense to move the buying operations to New York to be closer to its apparel design operations it moved from Bentonville a year ago.
Wal-mart will still continue to hire at its in-store level positions.

It goes to show that even the worlds best retailer had to cut some strings somewhere. No one is really exempt from this recession.