Amid rising inflation, retail giant Walmart has laid off at least 200 corporate employees. Walmart, which employs nearly 1.6 million workers in the United States, described layoffs as a way to better position the company for a strong future. 

   

Walmart lays off 200 corporate employees amid rising inflation

WHAT?

Amid rising inflation, retail giant Walmart has laid off at least 200 corporate employees. Walmart, which employs nearly 1.6 million workers in the United States, described layoffs as a way to better position the company for a strong future. 

HOW?

"We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future," a company spokesperson said in a statement late on Wednesday (August 3).

At the same time, the company is "further investing in key areas like e-commerce, technology, health & wellness, supply chain, and advertising sales and creating new roles to support our growing number of services", the statement added.

WHEN?

The news of layoffs at Walmart came as after the company recently slashed its profit outlook due to inflation.

The global macro-economic condition, especially rising inflation, has hit other retail giants like Target and Best Buy too, who cut profit targets.