Walmart Planning To Layoffs Hundred Of Jobs In Upcoming Weeks Because Of This Big Reason

Walmart Layoffs: Retail giant Walmart is laying off hundreds of employees at its e-commerce facilities across the US as part of staffing adjustments to “better prepare for the future needs of customers”. According to a CNBC report, Walmart is reducing its workforce as many retailers are planning for roughly flat or declining sales. A company spokesperson said the decision was not taken lightly.

What has Walmart said in its statement

“We are working closely with affected associates to help them understand what career options may be available at other Walmart locations,” a company spokesperson said in a statement. According to Reuters reports, about 200 employees at Walmart’s southern New Jersey facility will be affected.

Walmart’s competitor Amazon cut 27 thousand jobs in two rounds

Walmart rival Amazon has slashed 27,000 jobs in two rounds and another retail major targets plans to cut total costs by up to $3 billion over the next three years. Walmart expects slower sales growth and lower profits in the coming fiscal year. The company said last month that it expected same-store sales of its US business, excluding fuel, to grow between 2-2.5 per cent.

online sales

Although online sales continue to grow at a slower pace than during the peak of the pandemic. In its fourth quarter, Walmart reported strong revenue growth globally with strength in stores and e-commerce. Total revenue was $164 billion, up 7.3 percent.

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