Walmart To Lay Off Hundreds Of Workers To Better Plan For Future

Walmart is laying off hundreds of workers at its e-commerce facilities across the United States as part of a staffing adjustment to “better prepare for future customer needs.”

According to CNBC, Walmart is reducing its staff as many retailers anticipate flat or declining sales.

“We're working closely with affected associates to help them understand what career options may be available at other Walmart locations,” said a company spokesperson.

According to Reuters, approximately 200 workers will be impacted at Walmart's southern New Jersey facility.

Walmart's competitor Amazon has cut 27,000 jobs in two rounds and Target plans to cut up to USD 3 billion in total expenses over the next three years.

In the coming fiscal year, Walmart expects slower revenue growth and lower profits.

Last month, the company stated that it expects same-store sales in the United States to increase by 2-2.5 per cent, excluding gasoline.

Online purchases have continued to rise, albeit at a slower rate than during the pandemic's peak.

Walmart achieved strong revenue growth worldwide in the fourth quarter, led by store and e-commerce strength. Total income increased by 7.3 per cent to USD 164 billion.