Wal-Mart Reshaping its Organizational Structure

Wal-Mart Stores Inc. has announced a restructuring plan that will better help it keep up with the fast pace of change in the retail sector. The restructure includes changing the way individual stores report up through the company.

Previously, there were six divisional groups, which are now being trimmed to four. In addition, 44 regional groups are being cut to 36. Wal-Mart says there's no restructuring of the stores taking place, but rather a change in how they're aligned.

"Our last field restructure was several years ago and our business has changed over that time," Wal-Mart said in a statement. "The structure we're putting in place will help improve communication and execution, streamline decision making, and help us accelerate our pace of change."

Earlier this year, Wal-Mart consolidated its buying operations — the buying team in Bentonville, Ark. started to place combined store and web orders with suppliers that sell on both platforms. Wal-Mart also reorganized its food division in July.