Walmart has reduce 200 company jobs

Walmart is laying off 200 corporate workers, a person familiar with the matter confirmed Wednesday, a week after the company cut its profit forecast, saying inflation was forcing customers to buy less.

Company spokeswoman Anne Hatfield said in a statement that Walmart is “renewing our structure and improving select roles to provide clarity and better position the company for a strong future.” She added that the company is investing in other areas, including e-commerce and technology.

The company’s layoffs were the first to report The Wall Street Journal..

Walmart is the nation’s largest employer, with nearly 1.6 million employees. workers in the United States. The company spooked investors on July 25 when it cut its quarterly and full-year profit forecasts.

In that announcement, Walmart said American consumers are moving away from general merchandise purchases to focus on essentials like groceries. The company said it expected full-year operating profit to fall as much as 13 percent as the company was forced to further reduce inventory that was not being sold.

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