Wal

Credit: Reuters/Rick Wilking

The Wal-Mart company logo is seen outside a Wal-Mart Stores Inc company distribution center in Bentonville, Arkansas June 6, 2013.

The company said on Monday it would stop health benefits for part-time associates who work less than 30 hours. The move is expected to impact about 2 percent of the company's workforce, the company said in a blog post.

Wal-Mart cut its full-year profit forecast in August, citing higher employee benefit costs, among other things.

The company said then that it expected to spend $500 million on U.S. healthcare this year, up from $330 million estimated in February, as enrollments and medical costs rise.

(Reporting by Siddharth Cavale in Bangalore; Editing by Ted Kerr)

from Google News http://#

via IFTTT

Tweet