Walmart is reducing tons of of company jobs after warnings of falling earnings

Retail giant Walmart is laying off about 200 corporate workers, a source familiar with the situation told The Hill on Wednesday, a week after it said inflation was weighing on its bottom line.

Layoffs come as consumer confidence is falling and inflation reaches record highs.

Higher food and fuel costs “affect customers’ ability to spend on general merchandise categories and require more discounting to move through inventory,” the company wrote. fiscal update Last week.

A source told The Hill that the layoffs will not affect front-line workers and are part of a restructuring effort that the company expects will create new jobs over time.

“We are restructuring our structure and improving select roles to provide clarity and better position the company for a strong future,” a Walmart spokesperson told The Hill on Wednesday, adding that the company is increasing investments in arenas such as e-commerce. promotional sales, health and wellness.

The Wall Street Journal. reported on Wednesday that corporate jobs include trading, global technology and real estate teams.

Leave a Comment