Wal-Mart decided to lay off 450 employees Friday at their headquarters in Bentonville Arkansas. Currently there are 18,600 employees working there. The stock rallied a little bit on Friday after the announcement, about 0.2%. The company at the same time has begun hiring seasonal workers.

The company made a statement stating that customers have changed and they need to make changes to stay competitive. The stock of Wal-Mart is down 22% year to date as investors fear competition from Amazon and flat revenue. Same store sales have increased 1.5% in the second quarter and 1.1% in the first quarter, so it's not all bad news.