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News/Noticias Wal-Mart tops FORTUNE Magazine's list of best discount retailer to work for in America. Bentonville, AR (January 12, 1999) – Wal-Mart Stores, Inc. is the nation's best discount retailer to work for, and one of the 100 best companies to work for overall in America, according to FORTUNE Magazine. The second annual survey, which was published today, ranked Wal-Mart 66th. It was among 1,000 companies considered and the only discount retailer to make the prestigious list. According to the survey results, Wal-Mart, the nation's largest private sector employer "engenders loyalty and enthusiasm by investing heavily in training and by promoting workers from within." FORTUNE compiled its list through research, analysis and polls of over 27,000 employees from hundreds of companies across the nation. The survey ranked the 100 best employers on criteria which included work environment, corporate culture, benefits and overall job satisfaction. "Our company is built upon the principle of people working together to serve our customers," said Coleman Peterson, senior vice president of Wal-Mart's People Division. "We are proud of this recognition and especially of our associates for creating such a positive working environment. Our people really do make the difference!" added Peterson. Wal-Mart's creation of 105,000 jobs during the past two years – a 16% increase in its work force – was highlighted. The retailer is the largest, private sector employer of African-Americans, Hispanics and women in America. The findings also cited the amount of training it provides to associates. "There is no question that Wal-Mart's success can be traced back to our associates and the historical practice in our corporate culture of respect for the individual," said Don Soderquist, Wal-Mart's chief operating officer and vice chairman of the board. "Our associates set us apart from other companies and create the valued Wal-Mart principles and attitudes toward our customers," he added. This is another in a series of awards recognizing its corporate accomplishments. In 1998, HISPANIC and Latina Style magazines listed it among the foremost companies in the U.S. for employment, vendor and economic development opportunities. The Hispanic Association on Corporate Responsibility (HACR) presented its "Corporate Governance" award to Wal-Mart for its appointment of Hispanics to key executive positions, including the naming of three Latinos to its board of directors. Wal-Mart Stores, Inc. operates more than 2,400 stores and 450 Sam's Clubs in the United States. Internationally, the company operates units in Argentina (13), Brazil (13), Canada (152), Germany (95), Mexico (410), Puerto Rico (14), and under joint ventures in China (3) and Korea (4). Wal-Mart employs more than 780,000 associates in the United States and 130,000 internationally. Wal-Mart (WMT) is listed on the New York and Pacific stock exchanges. (return to
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