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Walmart to cut 500 jobs at headquarters

Published 01 October 2015

Walmart is planning to cut around 500 jobs at its headquarters in Arkansas as part of its strategy to reduce costs.

Walmart job cuts

The announcement is likely to be made on 2 October.

The Bentonville headquarter office has 18,000 employees.

The cost-cutting measure is a part of a larger streamlining effort undertaken by the company's CEO Doug McMillon.

In the past several months, rumours of layoffs have been doing rounds fuelled partly due to some local media reports.

Recruiting firms have reported that there has been an incursion of resumes from Walmart employees concerned about being laid off, reported The Huffington Post.

The layoffs would also affect other large consumer goods companies which work closely with Walmart as it often turns out to be their largest revenue source.

In August, Walmart lowered its earnings forecast while reporting a fall of 15% in the second quarter net income, compared with same period in the previous year.

The retailer has been facing stiff competition at all fronts - right from ecommerce players such as Amazon to traditional grocers and discounters.

Walmart is now charting a long-term strategy to refocus on ecommerce business, improve stores and enhance employee wages, reported The Wall Street Journal.

As part of its strategy, the company has launched its grocery pick-up service in few of the stores in the US to tackle severe competition from Amazon and other retailers.

Image: Walmart store in California. Photo: Courtesy of Wal-Mart Stores, Inc.