Walmart plans to cut about 1,500 jobs
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Walmart will cut nearly 1,500 jobs as part of a restructure designed to shave expenses and enable faster decision making, the Wall Street Journal first reported Wednesday and Axios confirmed.
The big picture: The job cuts come as the world's largest retailer said last week that it plans to raise prices on some items due to the impact of President Trump's tariffs.
- Those affected will remain employed with the company through August, Walmart spokesperson Jami Lamontagne told Axios.
- Walmart beat first-quarter estimates, but missed its sales goal, according to earnings reported last week. The company said its e-commerce business was profitable for the first time during the quarter.
What they're saying: The restructuring will be within Walmart's global technology and Walmart U.S. organizations, Suresh Kumar, the company's global chief technology officer, and John Furner, U.S. president and CEO, said in a note to Walmart's office-based employees shared with Axios.
- "We are eliminating roles as well as opening some new roles aligned with our business priorities and growth strategy. "
- "The world of technology is evolving at an unprecedented pace, and reshaping our structure allows us to accelerate how we deliver and adapt to the changing environment around us," the note states.
"These changes reflect a focus on business priorities and our growth strategy, and are not related to tariffs," Lamontagne said in an emailed statement.
What's next: The company said its working with the affected employees on their next steps.
Editor's note: This story has been updated with an additional comment from Walmart.