Walmart is eliminating about 200 corporate jobs as it
contends with rising costs, bloated inventories and weakening demand for
general merchandise.
The cuts include staffers in merchandising and technology,
said people familiar with the matter, who asked not to be named because the
matter is private.
“We’re updating our structure and evolving select roles to
provide clarity and better position the company for a strong future,” the
company said in an email. “At the same time, we’re further investing in key
areas and creating new roles to support our growing number of services for our
customers, suppliers and the business community.”
The retail giant is tightening its belt a week after slashing
its annual profit forecast for the second time in less than three months. US
consumers are buying less clothing and durable goods as soaring inflation
raises.
The shares fell 0.5% in extended trading. The job cuts were
first reported by the Wall Street Journal.
