Walmart is laying off 200 corporate workers, including global technology workers, amid falling profits and an effort to restructure, The Wall Street Journal reported Aug. 3.
Walmart cited higher food and fuel prices — which has resulted in consumers spending less on more profitable products — as a reason for declining profits. A Walmart spokesperson told the Journal that the restructuring would involve investing in new areas and creating new jobs along with the layoffs.
Walmart is the largest private employer in the U.S. Along with global technology workers, Walmart's merchandising and real estate teams were targeted for cuts, according to the Journal.