Walmart layoffs 2022: Retailer cuts employees, lowers profit forecasts amid inflation woes

Walmart is laying off more than 200 corporate workers amid growing concerns over inflation and sagging customer spending.

The Wall Street Journal was the first to report layoffs by the Arkansas-based chain, the nation’s largest private employer. Walmart confirmed to the Journal roles were being cut as a part of corporate restructuring and additional roles would be created elsewhere.

Anne Hatfield, a Walmart spokesperson, told CNBC the company is still hiring in parts of its business including supply chain, e-commerce, health and wellness and advertising sales.

“Shoppers are changing. Customers are changing,” she said. “We are doing some restructuring to make sure we’re aligned.”

Walmart announced last week it was cutting prices on clothing and other goods to trim bloated inventory. In a statement, the company said inflationary prices of fuel and food was “affecting customers ability to spend,” on certain times such as apparel, forcing greater markdowns to manage “prices to reflect certain supply chain costs and inflation and reducing storage costs associated with a backlog of shipping containers.”

Walmart told shareholders to expect their earning per share for the second quarter to drop around 8—9% and decline to the 11-13% range for FY 2023. It will report its second quarter results Aug. 16.

Walmart employs some 2.3 million people around the world, including 1.6 million in U.S.


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