Walmart to cut jobs at headquarters
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Walmart is planning to cut more than 1,000 jobs, mostly at its headquarters in Bentonville, Arkansas, the Wall Street Journal reports, citing unidentified people familiar with the matter. Walmart last week said it will close 63 Sam's Club stores and eliminate 10,000 jobs. The company employs 1.5 million.
Why this matters: Walmart is cutting cost to invest in e-commerce in a fight with Amazon, the WSJ says. “Retail is changing rapidly and we are transforming to meet the needs of our customers,” Wal-Mart spokesman Blake Jackson told the paper.