Walmart has planned to cut around 1,500 jobs across the United States as a part of its corporate restructuring plan. The American retail giant’s move will impact teams, including global technology operations, e-commerce fulfillment managers and advertising business Walmart Connect. The development aims to reduce expenses and speed up decision-making, Reuters reported.
The jobs cut “reflect a focus on business priorities and our growth strategy, and are not related to tariffs,” said a Walmart spokeswoman, according to Reuters.
Apart from job cuts, the American e-commerce giant has planned to add new roles, the company’s top executive reportedly told employees in a memo.
Walmart vs Donald Trump
This is another big move by the American retail giant in a month’s time. Prior to this, the company increased the prices of products on its e-commerce, particularly of Chinese goods and cited US President Donald Trump’s tariff hike as a reason behind its decision.
“We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” Walmart CEO Douglas McMillon had said in an earnings call.
Walmart’s move was criticised by the US president in a post on his social media platform, Truth Social.
“Between Walmart and China, they should, as is said, ‘Eat The TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will our customers!”
Walmart Quarterly Earnings
Walmart had recently posted its first-quarter results. Walmart’s financial year runs from February 1 to January 31st. The company’s revenue in Q1 was up by 2.5% to $165.6 billion. Its global eCommerce sales increased 22%, driven by store-fulfilled pickup & delivery and marketplace. In its international business, growth in net sales was led by China, Flipkart and Walmex.
