Walmart responds to rising inflation by laying off 200 of its employees
More than 200 corporate workers are being laid off from Walmart as a response to rising inflation and reduced customer spending.
According to The Wall Street Journal, the layoffs took place as the Arkansas-based chain was restructuring to create additional roles elsewhere.
Walmart spokesperson Anne Hatfield told CNBC that the company is still in the works of hiring in departments including supply chain, e-commerce, health and wellness and advertising sales.
"Shoppers are changing. Customers are changing," she said.
"We are doing some restructuring to make sure we’re aligned."
Furthermore, the chain announced that it was cutting prices on clothing and other goods in a bid to reduce its bloated inventory.