(MENAFN) The US based world's largest retailer is scheduling workers for fewer hours in some of its 4,500 across the US, amid its profit plunging 15 percent in the second quarter.
Profits decline was partly because of pay raises, efforts to overhaul its stores, and investments in its online operations, however, these changes did actually help its sales to some extent.
Wal-Mart's low-income shoppers are still struggling as the U.S. economy goes through a slow recovery, plus the firm also faces increasing competition from online king Amazon.com among other.
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