Wal-Mart cuts hours amidst wage pressures

Wages have been going up at Wal-Mart (NYSE: WMT), but the global retail giant has been cutting workers' hours to trim labor costs. "Managing hours is a routine part of running a sustainable operation, and in select number of stores, it requires keeping those hours to what was originally budgeted," Wal-Mart spokesman Kory Lundberg told CNBC on Monday. Lunberg spoke after Bloomberg News reported ...