Nearly 200 corporate employees at Walmart are being laid off amid a major restructuring effort by the retail titan after it projected a drop in profits due to high inflation.
Employees in merchandising, global technology, and real-estate teams at the company’s headquarters in Bentonville, Arkansas, are among those whose positions are being terminated, according to the Wall Street Journal. Employees at other corporate locations are also being laid off.
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Walmart spokeswoman Anne Hatfield said the move will allow some corporate employees to move into other positions, including roles the company is creating as part of its new focus.
“We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” Hatfield told Axios. “At the same time, we’re further investing in key areas like e-commerce, technology, health and wellness, supply chain and advertising sales and creating new roles to support our growing number of services for our customers, suppliers and the business community.”
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Walmart slashed its profit outlook last week, citing inflation as a driving force behind shoppers buying more necessities such as food and spending less money on items including clothing and electronics, according to CNBC.
Walmart is the largest private employer in the United States. As of the end of January, it had 1.7 million employees in the U.S. and thousands in corporate roles.
