Report: Wal-Mart may cut as many as 2,000 jobs in China

Bentonville, Ark. Wal-Mart Stores may layoff 1,500 to 2,000 workers in China to cut costs after the company's expansion in the Asian nation failed to meet expectations, according to a Bloomberg report.

Some employees have been given the option of working at different stores, taking pay cuts or ending employment contracts, the report said.

The layoffs may be in the provinces of Guangdong, Hunan, Hubei, Sichuan and Jiangxi and in the municipalities of Beijing and Chongqing, according to the report.