Walmart cuts hundreds of corporate jobs after warnings of falling profits ...Middle East

The retail giant Walmart is laying off about 200 corporate workers, a source familiar with the situation told The Hill Wednesday, a week after it reported inflation was affecting its overall profits. The layoffs come as consumer confidence dips and inflation reaches record highs. Higher food and fuel costs are “affecting customers’ ability to spend on general merchandise categories and requiring more markdowns to move through the inventory,” the company wrote in a fiscal update last week. The layoffs won’t affect frontline workers, the source told The Hill, and is part of a restructuring effort that the company hopes will create new jobs over time. “We’re updating our structur

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Walmart cuts hundreds of corporate jobs after warnings of falling profits ...Middle East

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