Walmart is reportedly planning to cut over 1,000 corporate jobs

Mark Ralston | AFP | Getty Images

A Walmart store is seen on January 16, 2016 in Chinatown, Los Angeles, one of seven Walmart stores in Southern California and 269 stores across the globe that will close down due to company restructuring.

Walmart is planning to cut over 1,000 corporate jobs, the Wall Street Journal reported Friday citing sources.

The layoffs, expected to be completed by Jan. 31, 2019, will focus largely on employees in its corporate headquarters, the report said.

Walmart, the country’s largest private employer, has 1.5 million workers in the U.S. and 2.3 million around the world.

The news comes a day after a whirlwind Thursday for Walmart, when it announced in the morning it would be boosting its starting wage, just hours before news began to trickle out it was closing certain Sam’s Clubs stores. The company confirmed the store closures by Thursday evening.

In all, more than 60 Sam’s Club stores are closing.

Meantime, Walmart is also shaking up its management workforce, according to a report by Bloomberg. The report said the retailer is planning to remove about 3,500 store co-managers and adding 1,700 assistant store managers. The latter is a slightly lower-paid role.

Walmart, like many retailers, is attempting to reorient itself to a new retail landscape in which store footprints are out of sync of shoppers. It is also battling e-commerce giant Amazon, whose advanced investment in technology helps it leapfrog traditional stores’ profit margins.

It has sought to make its store more profitable by pouring money into shelf-scanning robots and cashier-replacing capabilities. Walmart expects to roll out its “Scan & Go” technology to 100 more locations.

More broadly, it has also looked to redefine itself as a digital company, even planning to drop the word “stores” from its name. These efforts have been propelled by its acquisition of Amazon-competitor, through which it has been building a coterie of online brands.

Walmart was not immediately available for comment.

Source link

Disclaimer would like to remind you that all opinions expressed at are those of the individual authors and do not necessarily represent the opinion of or its management. has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Leave A Reply

Your email address will not be published.