POSTED: Tuesday, January 12, 2010 - 9:13am
UPDATED: Thursday, February 25, 2010 - 11:35am
Wal-Mart announced that it will close then Sam's Club stores that it called financially under performing.
In the move, Sam's Club, the number two warehouse club in the U.S., will lay off 1,500 workers. In a letter to employees on the Wal-Mart web sit, Sam's Club President and Chief Executive Brian Cornell said the ten stores that are closing continue to lose money, but by the end of the year, Sam's Club will have added six new stores and remodeled 52 other stores. Some of the stores closing are in Houston and California.