Walmart CFO: Job cuts aid efficiency, operations

Wal-Mart Stores' move to cut back-office jobs is an efficiency program that will also serve operational goals, a company executive said in a presentation Wednesday.

Speaking at the Goldman Sachs Retailing Conference in New York, Brett Biggs, CFO of the Bentonville, Ark.-based mass merchant, described the reported 7,000 job cuts as an efficient reallocation of labor, transitioning store-based accounting and invoicing jobs to central shared services while potentially providing the

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