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Walmart extends debt-free college benefits to high schoolers

FILE- This Nov. 9, 2018, file photo shows a Walmart Supercenter in Houston. Walmart is extending its debt-free college benefits to high schoolers as a way to attract workers in a tight labor market. It says it will offer free college SAT and ACT prep for its workers in high school, while offering two to three free general education college classes through an educational startup. Walmart estimates about 25,000 people under the age of 18 work at its stores. (AP Photo/David J. Phillip, File)

WASHINGTON – Walmart Inc. on Wednesday announced a sweeping overhaul at Jet.com, an e-commerce retailer it bought for $3.3 billion in 2016, and said it will eliminate the online business' president.

Walmart said it will integrate Jet.com's retail, technology, marketing, analytics and product teams with its own e-commerce business. Jet's president, Simon Belsham, will leave in early August.

Jet.com, which was expected to boost Walmart's reach with city dwellers and millennial shoppers, has not lived up to the retailer's expectations of becoming a driver for online grocery sales and growing market share in urban areas, industry sources said.

The retailer has previously said it expects losses from its online business, including Jet.com, to increase this year, without giving details.

Kieran Shanahan, who oversees Walmart's food, consumables, health and wellness categories, will add responsibility for Jet.com's strategy and management.