As inflation continues to rise, Walmart reportedly laid off approximately 200 of its corporate employees, according to a source familiar with the situation.
Based on a recent article published by Tech Crunch, the retail company said in a statement, “We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future. 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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Additionally, CNN reports that “the job cuts come after Walmart last week cut its profit outlook for the second quarter and the remainder of the year, warning that high food and fuel costs have impacted how customers spend.” The outlet adds, “Walmart said it has been forced to cut costs on various items, including apparel.”
“Shoppers are changing. Customers are changing. We are doing some restructuring to make sure we’re aligned,” Anne Hatfield, a Walmart spokesperson told CNBC. As of this writing, Walmart continues to be one of the largest retailers in the country, with nearly 1.6 million workers nationwide.
