Wal-Mart Stores is eliminating 2,300 workers at its Sam's Club division as it reduces the ranks of middle managers in a bid to be more nimble.
The layoffs, which cut 2% of the membership club's employee count of about 116,000, mark the largest since 2010, when the Sam's Club unit laid off 10,000 workers as it moved to outsource food demonstrations at its stores.
Bill Durling, a spokesman at Sam's Club, says that a little less than half of the cuts were aimed at salaried assistant managers. It is also eliminating some hourly workers.
The cuts come as Sam's Club strives to compete with Costco Wholesale and online players like Amazon.com's Prime membership service.
Bentonville, Ark.-based Wal-Mart plans to post quarterly results from the holiday shopping season on Feb. 15. Shares of Wal-Mart were down 0.2% in after-hours traded and closed down 0.7% to $74.42 Friday in an ugly day of losses on Wall Street.
In recent weeks, other retailers have announced layoffs following a disappointing holiday shopping season, including Target and Macy's.
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