Wal-Mart to Create 500,000 Jobs Worldwide

'We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens,' the company said.

As part of a strategy to transform the world's largest retailer into a more global company, Wal-Mart said on June 5 that it would create 500,000 around the world in the coming years.

Mike Duke, president and chief executive of Wal-Mart Stores, told shareholders the company needed to serve customers worldwide as a local store, share its best practices and make better use of its global supply chain.

Employee talent will be key to making that strategy work, he said at the company's annual shareholder meeting, according to a company statement.

"We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens," he said.

Duke did not provide details on where the hiring will occur.

The retailer has more than 8,400 retail units in 15 countries and employs more than two million people.

Wal-Mart also announced that its board of directors had approved a $15 billion share buyback. The new repurchase program replaces a previous $15 billion program announced on June 5, 2009. The company said about $4.7 billion in the previous program remained.

Copyright Agence France-Presse, 2010

TAGS: Talent
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