Walmart plans job cuts in restructuring push to lower expenses

The Wall Street Journal first reported about the plan to cut jobs [File]
| Photo Credit: REUTERS

U.S. retail bellwether Walmart is planning to cut about 1,500 jobs as part of a restructuring push to lower expenses and simplify operations, according to a memo seen by Reuters.

The company’s plan will impact teams in its global technology operations, e-commerce fulfillment in U.S. stores and its advertising business Walmart Connect.

“To accelerate our progress delivering the experiences that will define the future of retail, we must sharpen our focus,” the memo said.

The company will also eliminate some roles and opening some new ones, according to the plan.

Walmart is the largest U.S. private employer with about 1.6 million employees. It employed about 2.1 million employees worldwide in total, according to its website.

It is also the country’s biggest importer with about 60% of its imports, mainly items such as clothing, electronics and toys, from China.

The Wall Street Journal first reported about the plan to cut jobs.

The company had last week said it would raise prices for some products by the end of May as President Donald Trump’s trade war hits its supply chain.

Walmart had cut some roles and closed its office in North Carolina in February as part of its move to relocate employees to its main hubs in California and Arkansas.