Walmart to cut hundreds of jobs

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Walmart to cut hundreds of jobs

Walmart is planning a round of layoffs, with most of the cuts coming at the chain's Bentonville, Arkansas-headquarters and regional offices.

One of the world's largest retailers is planning to cut almost 1,000 corporate jobs by the end of the fiscal year.

"As we've previously shared, we are always looking for ways to operate more efficiently and effectively", Wal-Mart said in a statement to CNBC.

Numerous eliminated jobs will be in the mega-retailer's human resources departments rather than in stores, with the expectation of management that consultants can take on those roles, The Wall Street Journal reported, noting that almost 1,000 positions would be eliminated. The cutbacks come as the retailer deals with higher employee costs and increased competition from online businesses such as Amazon. It's the country's biggest retailer and the largest private USA employer.

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