Walmart Layoffs: Retail Giant Fires Hundreds of Employees at Its E-Commerce Facilities Across the US
Retail giant Walmart is laying off hundreds of employees at its e-commerce facilities across the US as part of an adjustment in staffing "to better prepare for the future needs of customers".
San Francisco, March 24 : Retail giant Walmart is laying off hundreds of employees at its e-commerce facilities across the US as part of an adjustment in staffing "to better prepare for the future needs of customers". Walmart is shrinking its workforce as many retailers plan on roughly flat or declining sales, reports CNBC. A company spokesperson said that this decision was not made lightly. Accenture Cuts 19,000 Jobs; Tech Mayhem Deepens Amid Challenging Global Macro-Economic Conditions.
"We're working closely with affected associates to help them understand what career options may be available at other Walmart locations," the spokesperson said in a statement. OnePlus Nord CE 3 Lite and Nord Buds 2 Launch Officially Confirmed; Here’s All That You Need To Know.
About 200 workers will be affected at Walmart's southern New Jersey facility, reports Reuters. Walmart's rival Amazon has slashed 27,000 jobs in two rounds and another retail major Target plans to cut up to $3 billion in total costs over the next three years.
Walmart anticipates slower sales growth and lower profits in the coming fiscal year. The company said last month that it expects same-store sales for its US business to grow between 2-2.5 per cent, excluding fuel.
Online sales have continued to grow, though at a slower pace than during the peak of the pandemic. In its fourth quarter, Walmart delivered strong revenue growth globally with strength in stores and e-commerce. Total revenue was $164 billion, up 7.3 per cent.
(The above story first appeared on LatestLY on Mar 24, 2023 04:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).