Wal-Mart To Trim Payroll: Replaces Employees For The Second Time

Wal-Mart Corporation today announced a series of cost-cutting moves designed to decrease expenses and improve corporate profits. In this latest initiative, Wal-Mart executives announced a plan to replace over 4,500 current employees with lower-paid newcomers.

Only two years ago, these soon to be laid off workers were themselves hired to replace previous employees with “high salaries.” This second round of employee replacements has been described as aggressive cost cutting intended to drive almost all costs out of salaries.