Retail large Walmart is slashing about 1,500 company jobs after the corporate introduced final week it plans to boost costs resulting from looming tariffs.
“We are reshaping some teams in our Global Tech and Walmart U.S. organizations where we have identified opportunities to remove layers and complexity, speed up decision-making, and help associates innovate rapidly,” two senior Walmart executives wrote in a Wednesday memo to associates, which was obtained by The Hill.
“We’re eliminating roles in addition to opening some new roles aligned with our enterprise priorities and progress technique,” they added.
Walmart’s world chief expertise officer and John Furner, the president and CEO of Walmart U.S., wrote within the memo that “these changes are mainly focused on driving efficiency in the End-to-End Operations teams, ensuring we’re serving them so they can best serve our customers.”
“We’re also evolving the structure of our Walmart Connect marketing organization to position us for future success as we continue growing this business,” they stated.
The retail behemoth, which is headquartered in Bentonville, Ark., has about 1.6 million employees at 4,600 places across the nation.
Walmart stated final week that it will increase costs at shops as a result of larger prices pushed by President Trump’s tariff agenda.
“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 Doug McMillon stated.
Trump hammered Walmart over the weekend, urging the retail large to “eat the tariffs” and spare the shoppers from the extra price.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,” Trump wrote Saturday on Fact Social.
“Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING,” the president added. “I’ll be watching, and so will your customers!!!”
