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Wal-Mart to cut 1,350
workplaces in Germany? US retail giant Wal-Mart will cut 1,350 workplaces in Germany. Lebensmittelzeitung, the German business magazine, says that 1,200 jobs will disappear from stores and 150 from administration. Wal-Mart has not done well in Germany, where it has continued to register important losses. The German Wal-Mart operation, which now employs 17,400 people, has been ordered by the Arkansas head office to cut personnel costs from 13.3 to 11.5 per cent of total expenses. In Saturday's Handelsblatt, the business daily, Wal-Mart says that it does not know on what these speculations are based. Handelsblatt reports that Wal-Mart is expected to make a loss of 281 million Euro (some 250 million USD) in Germany this year.
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