Walmart is laying off 200 corporate employees, a person briefed on the matter confirmed Wednesday, after a week later the company cut its profit outlook and inflation pressured customers to buy less. Said he was running.
In a statement, Walmart spokeswoman Anne Hatfield said in a statement that Walmart “has updated its structure and selected selected companies to provide clarity and better position the company for a strong future.” The company is investing in other areas, including e-commerce and technology, she added.
Corporate layoffs were first reported by wall street journal.
Walmart is the largest employer in the United States, with approximately 1.6 million employees in the United States. The company surprised investors by cutting its quarterly and full-year earnings guidance forecasts on July 25.
In its announcement, Walmart said American consumers are holding back on general merchandise purchases to focus on essentials such as groceries. He said he expects full-year operating profit to decline by as much as 13% as the company is forced to continue to do so.
