Walmart to close 269 stores, including 7 locations in SoCal

(FOX 11 / CNS) - Seven Walmart stores in Southern California will be among 269 locations closed across the globe as part of a company-wide restructuring, the discount retailer announced Friday.

"Actively managing our portfolio of assets is essential to maintaining a healthy business,'' Wal-Mart Stores Inc. President/CEO Doug McMillon. "Closing stores is never an easy decision, but it is necessary to keep the
company strong and positioned for the future. It's important to remember that we'll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.''

About 16,000 employees are expected to be impacted by the closures.

There are nearly 11,600 Walmart stores around the world, ranging from smaller Walmart Express stores to Neighborhood Markets, Walmarts, Walmart Supercenters and Sam's Club warehouse outlets.

Stores that will be closed in Southern California will be Walmarts at 151 E. Fifth St. in Long Beach, effective Jan. 28, and at 4101 Crenshaw Blvd. in Baldwin Hills, effective Sunday.

Five Walmart Neighborhood Markets will also be closed:

-- 2408 Lincoln Ave., Altadena
-- 6820 Eastern Ave., Bell Gardens
-- 701 W. Cesar E. Chavez Ave., Chinatown
-- 12120 Carson St., Hawaiian Gardens
-- 2045 Highland Ave., San Bernardino

Those five stores will close Jan. 28, with the exception of the Chinatown store, which will close Sunday.

Delia Garcia of Walmart said about 1,100 employees will be affected by the closure of the seven Southern California stores.

Tap here for the complete list of stores.

"For all associates, the goal is to support our associates throughout the transition and provide opportunities to transfer to nearby stores,'' Garcia said.

She noted that most of the stores being closed are located within six miles of four other Walmart locations.

She also said that while the stores will be closing by Jan. 28, most employees will likely continue working until Feb. 10 while stores are dismantled and merchandise is removed.

Employees who have not been placed in new jobs by Feb. 10 will receive 60 days pay. If after that 60 days they still have not been placed in new jobs, they will receive a severance package equal to one week's pay for every year they have been with the company, Garcia said.

Garcia also said seven new Walmart stores are expected to open in California over the next year, and two existing stores will be expanded -- moves that are expected to create about 1,000 jobs.

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