Wal-Mart Slashes Jobs at Home Office

Reuters

Wal-Mart Stores Inc is cutting 450 jobs at its headquarters in Arkansas as part of a reorganization of the retailer's management structure, according to an internal memo circulated to staff on Friday.

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The cuts are aimed at making the world's largest retailer by revenue a "more nimble organization" and is part of a review that will lead to "pulling back in some areas and investing in others," Chief Executive Doug McMillon said in the memo, which was seen by Reuters.

(This story corrects spelling of chief executive's name in 2nd paragraph)

(Reporting by Nathan Layne in Atlanta; Editing by Chizu Nomiyama)