The world’s largest retailer, Walmart, is cutting staffing at its e-commerce locations across the US in order “to better prepare for the future needs of customers”.
Walmart is cutting jobs as many shops anticipate flat or declining sales. According to a report in IANS, a corporate official claimed that this choice was not taken lightly.
The spokeswoman added in a statement, “We’re working closely with affected associates to help them understand what career options may be available at other Walmart locations,”
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Around 200 workers will be impacted at the Walmart factory in southern New Jersey, according to Reuters.
Target, another large retailer, wants to decrease costs by up to $3 billion over the next three years. Amazon, a rival of Walmart, has laid off 27,000 workers in two rounds.
Walmart anticipates lower profitability growth and poorer sales growth for the upcoming fiscal year. The business announced last month that it expects the US division’s same-store sales growth, excluding gasoline, to range between 2-2.5 percent.
While more slowly than they were at the height of the pandemic, online sales have climbed. Walmart’s strong retail and online sales during the fourth quarter contributed to its impressive revenue rise. To reach $164 billion, the overall revenue climbed 7.3%.