Wal-Mart Stores Inc. recently announced it is cutting 700 to 800 jobs at its Bentonville, Arkansas headquarters as it builds fewer new stores this year and makes other operational changes.
The announced cuts are in Wal-Mart's real estate, apparel and health and wellness departments, and as part of the reorganization the company announced it is moving positions in its apparel buying and planning group from Bentonville to New York.
"New York City is the fashion hub and we needed to have more people located there," spokesman David Tovar said recently.
Despite the moves and cuts Wal-Mart reported continued sales growth in January as others suffered deep declines. Other major retailers and manufacturers including Macy's Inc., Bon-Ton Inc. and Liz Claiborne Inc. have announced massive job cuts and other cost-cutting measures as they aim to preserve cash in the wake of the unprecedented pullback in consumer spending.
for more information: www.walmart.com