Walmart Cuts 450 Jobs

Walmart (Bentonville, Ark.) laid off 450 employees from its corporate office this past Friday, Oct. 2. The changes were effective immediately.

USA Today reports that all affected employees were in salaried management positions. Laid off employees will receive 60 days of pay and benefits, as well as severance equaling two weeks of pay for each year of service to the company.

Walmart has unveiled the decision was part of a plan to keep the company competitive. The mass merchant cited the agility of the company and changing demand as reasons for the alterations.