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| Wal-Mart to end health insurance for part-time workers | Wal-Mart to end health insurance for part-time workers |
| (about 4 hours later) | |
| US retail giant Wal-Mart has said it will end health insurance coverage for some of its part-time workers, citing rising healthcare costs. | US retail giant Wal-Mart has said it will end health insurance coverage for some of its part-time workers, citing rising healthcare costs. |
| About 30,000 Wal-Mart employees who work fewer than 30 hours a week will be affected by the change. | About 30,000 Wal-Mart employees who work fewer than 30 hours a week will be affected by the change. |
| Wal-Mart employs 1.3 million people in the US, making it the country's largest employer. | Wal-Mart employs 1.3 million people in the US, making it the country's largest employer. |
| In a blog post, the firm said it made the change following similar moves by rival Target and others. | In a blog post, the firm said it made the change following similar moves by rival Target and others. |
| "Like every company, Wal-Mart continues to face rising health care costs," wrote the company. | |
| "This year, the expenses were significant and led us to make some tough decisions as we begin our annual enrollment," it added. | "This year, the expenses were significant and led us to make some tough decisions as we begin our annual enrollment," it added. |
| Wal-Mart said it would also increase the amount that current members of its healthcare plans must pay in premiums. | Wal-Mart said it would also increase the amount that current members of its healthcare plans must pay in premiums. |
| It said it expected its healthcare costs to rise by $500m (£310m) this year. | |
| In August, the company cut its profit forecast, partly as a result of rising employee healthcare costs. | In August, the company cut its profit forecast, partly as a result of rising employee healthcare costs. |