Beverly Hills 1/12/2010 8:20:32 AM
News / Business

Wal-Mart Announces Major Cost Cutting

Finance World News Update by EQUITIES Magazine

As part of its cost-cutting strategy, Wal-Mart will close ten “financially underperforming” Sam’s Club stores in the U.S. and lay off 1,500 workers.

 

Four of the stores are in California--in La Quinta, Vista, Irvine and Sacramento. The others are in Nampa, Ind.; Louisville, Colo.; Rolling Meadows, Ill.; Clay, N.Y.; Houston; and Phoenix.

 

Wal-Mart's shares slid 6 cents to $54.15 in after-hours trading. The stock is up 5% in the past year.

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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