New York: Sam's Club layoffs: Wal-Mart lays off 11000 Sam’s Club employees. Wal-Mart run and managed Sam’s Club is set to axe thousands of employees from different locations. It is estimated that the company is going to fire more than eleven thousand employees from its branches spread in 48 US states.
The news must come as a shock for people who are directly affected by the job retrenchment drive in on the largest companies in the US.
Even the people who are not directly affected by this retrenchment too may well become insecure as they fear that their turn may also be very close.
This is going to be one of the largest job loss in a single go in the US in the last few months and gives an indication that the economy is still not out of the recessionary mood.
Sam's Club is a chain of membership-only retail warehouse clubs. Founded in 1983, it is owned and operated by Wal-Mart Stores, Inc., and is named after Walmart founder Sam Walton.
As of January 31, 2009, the Sam's Club chain operated in 48 of the 50 U.S. States, and, as of 2008, served more than 47 million U.S. members. Sam's Club ranks second in sales volume among warehouse clubs behind Costco Wholesale, despite the fact that Sam's has more retail locations.
Walmart owned Sam's Club has some 600 clubs and employs 110,000 people many of whom are in part time jobs in the company.