Walmar WMT -0.4%t is tightening its belt. Hundreds of workers in store planning, logistics, merchandising and real estate have been laid off as the company is looking to reduce some expenses where it believes it can be done without hurting overall business results. This late breaking news was reported first by Bloomberg Thursday afternoon.
John Furner, President of Walmart U.S., will speak to the action after all Walmart associates have been notified. However, Bloomberg received a message from Walmart saying, “We are continuing our journey to create an omni-channel organization within our Walmart U.S. business and we’re making some additional changes this week”. The company also said that its goal is to increase “innovation, speed, and productivity”.
