According to The Wall Street Journal, Walmart has revealed intentions to slash around 200 corporate roles at its headquarters and other locations.
The paper confirmed that the retail giant is restructuring its merchandising, global technology, and real estate teams to create “new roles” in more profitable areas after lowering its third-quarter and full-year sales and earnings forecasts, citing rising inflation that has forced consumers of all income levels to reconsider spending.
Walmart said when it issued the downgrading that widespread markdowns had not grabbed momentum, leaving its shops with shelves full of products they couldn’t clear.
According to press sources, Ford is preparing to lay off thousands of white-collar workers, while internet titans Microsoft and Facebook parent Meta are cutting back on employment as businesses across the board tighten their budgets.
