Thursday, February 4, 2010

Walmart Rolls Back On Jobs

Even price-conscious Walmart is suffering in this economy.

The retail giant will lay off 300 employees at its Bentonville, Arkansas headquarters to cut costs. Employees were told yesterday that the lay offs are coming.

This comes on the heels of Walmart's announcement that it's closing 10 Sam's Club locations at a cost of 11,000 jobs.

Competitor Costco just announced that its January comparable same-store sales rose 8%.

Guess we know who's winning the battle of the bulk retailers, at least for now.

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