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Retailers right-sizing amid 2014 uncertainty
Revelations of job cuts at leading retailers, the latest involving Sam’s Club, are a reminder that pro-active expense control remains retailers' best friend when it comes to ensuring profitability when faced with a murky outlook for consumer spending.
Sam’s Club on Friday became the latest retailer to disclose plans to eliminate 2,300 hourly and middle management positions. The move was characterized as a rebalancing of resources, according to Sam’s Club spokesman Bill Durling. Other retailers such as Macy’s and Target also recently announced job cuts.
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Sam’s Club to cut 2,300 workers
Bentonville, Ark. – Wal-Mart Stores is eliminating the positions of about 2,300 Sam’s Club employees. The job cuts represent 2% of Sam’s total workforce. Employees whose jobs are eliminated that cannot find another job with Wal-Mart or Sam’s Club will be eligible for severance.
