Walmart was founded in 1962 by Sam Walton in Rogers, Arkansas. It has grown to be the world's largest company by revenue and largest private employer in the world. In recent years, Walmart's Sam's Club division cut 2,300 workers, or 2% of its workforce, in order to make the company more nimble and better able to compete with competitors like Costco and Amazon. A Walmart spokesman said the job cuts were "the right move to make sure we are positioning ourselves for growing in the future."