Walmart lays off corporate employees after slashing forecast
Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook.
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.”
Anne Hatfield, a Walmart spokesperson, declined to say how many workers will be affected and what divisions have experienced cuts. She said Walmart is still hiring in parts of its business that are growing, including supply chain, e-commerce, health and wellness and advertising sales.
Despite losses, Walmart leads Fortune's 2022 top-earning companiesAug. 3, 202202:40“Shoppers are changing. Customers are changing,” she said. “We are doing some restructuring to make sure we’re aligned.”
The corporate layoffs were first reported by The Wall Street Journal.