Report: Walmart To Cut Nearly 1,000 Jobs By End Of Month
BENTONVILLE (KFSM) — Walmart Stores Inc. will be eliminating almost 1,000 jobs by the end of the month, according to a Wall Street Journal report.
The job cuts will be scattered, but are expected to concentrate on operations in the United States, the Journal reported after talking to an executive. Departments facing cuts include human resources and the technology and e-commerce divisions.
However, a Walmart representative said the company has not made any announcements about upcoming restructuring affecting its 1.5 million US associates.
The company released the following statement:
“As we’ve previously shared, we are always looking for ways to operate more efficiently and effectively. While we continually look at our corporate structure, we have not made any announcements. Like any organization, we make decisions based upon what’s best for our business and the customers we serve.”
More than 150 US Walmart Stores closed last January, following a round of layoffs in October 2015. Doug McMillon, Walmart CEO, said the cuts were made to create a more agile company to fit customer demand.
During a meeting with Walmart investors in Oct. 2016, McMillon said the company must manage expenses better moving forward, including changing the company’s internal work structure.
“We must grow this company for Walmart to have a future, but we need to do it in an efficient way,” McMillon said during the October meeting. “It’s not a growth at all cost mindset. We need to manage expenses even better, which includes changing how we do work inside the company. We’ve got to manage capital strategically.”