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, a majority-owned affiliate of retail giant



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, laid off 24 employees, or about 10% of its workforce, in an effort to conserve cash.

The cuts came mostly from the company's marketing and merchandising departments, according to reports. still has job openings in its creative and operations departments.

During regular trading on the

New York Stock Exchange

, Wal-Mart lost 90 cents, or 1.8%, to close at $50.09.