Walmart is reportedly cutting thousands of store co-managers after raising wages

• Walmart is reportedly cutting 3,500 co-manager positions and adding 1,700 lower-paid assistant store managers.
• The restructuring comes the day after Walmart announced it will raise its starting hourly wages to $11.
• Walmart also announced Thursday that it would close 63 Sam's Club stores in a move that would impact roughly 9,400 employees.

Walmart is reportedly cutting thousands of store manager positions and adding new lower-paid positions, Bloomberg reports.

The retailer is removing 3,500 salaried co-managers and adding 1,700 assistant store managers, according to the report.

The managers whose jobs are cut will be able to apply for other positions.

The restructuring comes the day after Walmart announced it will raise its starting hourly wages to $11, expand parental leave benefits, and give cash bonuses to employees of up to $1,000.

Walmart also announced Thursday that it would close 63 Sam's Club stores in a move that would impact roughly 9,400 employees.

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