Friday, retail giant Wal-Mart Stores, Inc. (WMT), said it was shutting down its optical lab in Ohio that would affect about 650 jobs, as part of its effort to reduce costs and operate optical business more efficiently. The announcement by Bentonville, Arkansas-based Wal-Mart marks the largest layoff by the company in central Ohio, amid the current economic downturn.
The retailer said the facility located at 2525 Rohr Road currently processes eyewear orders for vision centers that operate in its U.S. Wal-Mart stores. Wal-Mart said employees affected by the layoff would be offered regular paychecks and benefits for the next 60 days and would be eligible for positions at area Wal-Mart and Sam's Club stores.
Wal-Mart spokesperson Volker Heimeshoff said, "While this is the right decision for our business, it is a difficult one."
The company indicated that it would continue to operate an optical merchandise distribution center at the same location. Wal-Mart operates optical labs in Crawfordsville, Indiana, Fayetteville, Arkansas, and Dallas, Texas. The company said it is enlarging its Indiana and Arkansas facilities and expects to provide employment to about 100 people.
WMT is currently trading at $52.45, down $0.31 or 0.59%, on a volume of 9.97 million shares on the NYSE.
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