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Walmart Axes Several Hundred Corporate Jobs

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Walmart is trimming its fleet again with more corporate layoffs.

The retailer is eliminating several hundred corporate jobs this month, as part of its plan to streamline costs and allocate billions of dollars to improve its brick-and-mortar locations and e-commerce operations, The Wall Street Journal reported.

People familiar with the matter said that since Tuesday, layoffs have occurred in several Walmart departments, including the international arm of Walmart’s business, the retailer’s technology group and Sam’s Club.

Walmart CEO Doug McMillion also told analysts that the retailer would need to shift to low-cost operations, including some layoffs, to complete with what it sees as its rival, Amazon.com.

“We will continue to find ways to operate more efficiently and effectively, true to our cost-conscious heritage. In order to achieve this, from time to time you’ll see the company eliminate positions in an effort to stay lean and fast,” Walmart said in a statement.

The April layoffs follow those that took place earlier this year. In January, Walmart announced that it cut roughly 1,000 corporate jobs, including those at its Bentonville, Arkansas. headquarters and its California offices. The retailer said e-commerce, human resources and technology jobs would be eliminated so that it could focus more on its digital and store operations.

Despite conducting corporate layoffs, Walmart also indicated it will add 34,000 new jobs in 2017. Along with creating new e-commerce and retail jobs, the retailer plans to invest in the U.S. textile industry and support domestic suppliers.

Walmart also saw e-commerce growth and higher foot traffic for its fourth quarter. During this period, sales for online grocery and Jet.com rose by 29 percent and foot traffic ticked up 1.4%. Total revenue for the fourth quarter excluding currency fluctuations was $133.6 billion, which was a 3 percent increase over the fourth quarter of fiscal 2016.

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