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Walmart Closing More Than 150 "Smaller" Stores Around U.S.

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MIAMI (CBSMiami) -- Wal-Mart has announced they will be closing more than 150 stores across the U.S.

It's expected to impact about 16,000 workers globally.

Of the 154 American stores being closed, 102 of those will be the smallest format stores, Wal-Mart Express, which had been in pilot since 2011.

More than 95 percent of those stores are within 10 miles of another Wal-Mart. The company said workers who lose their jobs are likely to be placed in nearby locations.

115 other stores around the world will also shut down, a big chunk coming from Brazil.

Wal-Mart said the closures come amid increasing competition from online rivals like Amazon.

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