International Finance
Economy

WSJ report: Walmart may lay off hundreds of workers

January 12, 2017: In an attempt to cut costs and protect its bottomline, Walmart may lay off hundreds of employees, says a report in the Wall Street Journal.

Walmart is a US-based multinational retail corporation that employs 2.3 million workers worldwide. In late 2015, the company eliminated hundreds of positions in its headquarters, followed by a reduction in 7,000 back-office accounting positions. It has decided to lay off more employees in the wake of increasing e-commerce spending and rising employee wages.

The Bentonville, Arkansas-based retailer plans to eliminate jobs at its headquarters and regional personnel that support stores, according to the report.

Many of the eliminations are likely to affect WalMart’s human resources department, a large team that some senior executives believe should be more efficient or whose duties could be handled by outside consultants.

However, Walmart has not made any announcement regarding the job cuts.

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