Walmart has begun laying off corporate employees as part of a restructuring process that is aimed at better positioning the company for future growth.
The layoffs came after the company slashed its profit outlook and warned that consumers are pulling back on discretionary spending due to inflation.
That said, the retail giant is continuing to hire in parts of its business showing growth, including supply chain, eCommerce, health and wellness, and advertising sales.
“Shoppers are changing. Customers are changing,” said Anne Hatfield, a Walmart spokesperson. “We are doing some restructuring to make sure we’re aligned.”
Hatfield declined to say how many workers will be affected and what divisions have experienced cuts.
The Wall Street Journal was the first to report about the corporate layoffs.