“After months of evaluation, we’ve concluded there is an opportunity to better position our Home Office teams to move with speed and purpose,” McMillon wrote in the memo. The company is at “an important time in our history,” he said. “This in part means pulling back in some areas and investing in others.”
Laid-off employees will receive 60 days of pay, plus two weeks of pay for every year of employment with the company, said a Wal-Mart (WMT) spokesman. Job search assistance will be available for those who want it, he said.
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