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Wal-Mart (WMT) to Cut About 11K Jobs from Sam's Club Division

January 25, 2010 8:49 AM EST
Wal-Mart Stores, Inc. 9NYSE: WMT) announced that they will be cutting about 11,000 jobs from their Sam's Club division. The company announced that they will also be engaging an outside source for in-store product demos nationwide. Shares of Wal-Mart are trading about 0.96% higher pre-market today.

Brian Cornell, President and CEO of Sam's Club, sees that cuts as "net neutral,' and expects that many of the 10,000 cuts related to outsourcing will be hired by Shopper Events LLC of Rogers, Arkansas.

The company will also be cutting 1,200 jobs as a result of reducing their promotions to attract new memberships.

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