Walmart to close record number of stores in US and overseas
Retailer will shutter 154 locations in America as well as 115 overseas; about 16,000 employees are likely to be affected
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New York
WALMART, whose supercentres once transformed the way Americans shop, announced on Friday that it would close a record number of stores in the United States and overseas, as it fights to hold its ground in a retail landscape under siege by the behemoth Amazon.
The giant retailer, based in Bentonville, Arkansas, said in a statement that it would shutter 154 stores in the US, or about 3 per cent of its locations, as well as 115 stores overseas. It will also end its Walmart Express small-store format, which failed to catch on in urban areas. As many as 10,000 employees could lose their jobs in the US and 6,000 elsewhere, it added.
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