Walmart lays off 200 corporate employees amid rising inflation

SAN FRANCISCO: Retail giant Walmart has laid off at least 200 corporate employees as the economic downturn takes its toll on companies worldwide.

Walmart described the layoffs as a way to “better position the company for a strong future,” reports The Wall Street Journal.

Walmart employs nearly 1.6 million workers in the US.

“We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” a company spokesperson said in a statement late on Wednesday.

At the same time, the company is “further investing in key areas like e-commerce, technology, health & wellness, supply chain, and advertising sales and creating new roles to support our growing number of services”, the statement added.

The news of layoffs at Walmart came as after the company recently slashed its profit outlook due to inflation.