Walmart has announced plans to shut down 154 of their stores across the U.S. in 2016.
The company says most of the stores chosen to be closed have had low sales due to their close proximity to other Walmart stores. Two-thirds of the Walmarts scheduled to be closed are the smaller “Walmart Express” stores
10,000 employees will lose their jobs due to these planned store closings. If laid-off employees cannot be transferred to other stores, they will receive 60 days worth of pay and additional training for the company to help them find jobs elsewhere.
“Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future,” Doug McMillon, Walmart’s CEO, said in statement. “We are committed to growing, but we are being disciplined about it.”
Although the retailer has been struggling in recent years, the company still plans to open 300 new stores worldwide in 2016.
Click here for a full list of Walmart stores set to close in the coming weeks.