NEW YORK (KDKA/AP) – Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.
The stores being shuttered account for a fraction of the company’s 11,000 stores worldwide and less than 1 percent of its global revenue.
The closures will affect 16,000 workers, 10,000 of them in the U.S.
The announcement comes three months after its CEO Doug McMillon told investors the world’s largest retailer would review its store fleet amid increasing competition from all fronts, including from online rival Amazon.com.
In the U.S., 154 locations will be closed, most of them small format stores called Walmart Express, which were launched as a test program in 2011. The remaining 115 locations to close are spread over Latin America, mostly in Brazil.
No Walmart stores in Pennsylvania will be impacted by the closures. The closest store to Pittsburgh is in Bedford, Ohio.
(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)