UPDATED Jan. 19, 10:30 a.m. Wal-Mart Stores Inc. announced Jan. 15 that it will close 269 stores globally, including one in Frisco at 4268 Legacy Drive. The Wal-Mart is a neighborhood market that closed Sunday, Jan. 17. It is one of 23 neighborhood markets that Wal-Mart is closing. Two other Dallas-Fort Worth area neighborhood locations are also on the closing list: one on Southlake Boulevard in Southlake and one on Greenville Avenue in Dallas. In a news release, the company said it has been actively reviewing its portfolio since October to ensure its assets were aligned with its strategy. Many of the stores closing are known as Walmart Express, a small-format store that has been in pilot since 2011. “Actively managing our portfolio of assets is essential to maintaining a healthy business,” Wal-Mart President and CEO Doug McMillon said in the news release. “Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.” According to a report from the Texas Workforce Commission, 62 employees were laid off from the Frisco store. Wal-Mart estimates 16,000 associates will be affected by the closings. The company plans to place as many employees as possible in nearby stores. For the rest, Wal-Mart will provide 60 days of pay and severance, if eligible, as well as resume and interview skills training. Including the Wal-Mart on Legacy Drive, Frisco has three existing Wal-Mart stores. Four more stores are in development.