Walmart lays off corporate employees after slashing forecast
PUBLISHED WED, AUG 3 20224:58 PM EDTUPDATED THU, AUG 4 202210:44 AM EDT
by Melissa Repko
- Walmart confirmed on Wednesday that it has begun to lay off corporate employees.
- The news comes about a week after the company slashed its profit outlook and warned that consumers had pulled back on discretionary spending due to inflation.
Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due to inflation.
In a statement to CNBC, the retail giant described the layoffs as a way to “better position the company for a strong future.”
About 200 jobs have been cut, a person familiar with the matter told CNBC.
Anne Hatfield, a Walmart spokesperson, declined to comment on which divisions were affected but said the retailer is still hiring in parts of its business that are growing, including supply chain, e-commerce, health and wellness, and advertising sales.
“Shoppers are changing. Customers are changing,” she said. “We are doing some restructuring to make sure we’re aligned.” (Read More)
Source: CNBC