New Delhi: The corporate company Walmart has laid off 200 employees while the continuous increase in inflation in the country has created the fear of economic recession all over the world. Regarding the layoffs, the company said that this is part of updating the structure.
According to a report in Business Standard, Walmart is cutting about 200 corporate jobs. Because the company is facing rising prices and low demand. Walmart said that such steps have been taken to improve the company’s position and future. The layoffs by Walmart include retired delivery workers and merchandising employees. “We are updating our structure and developing transparency,” the company said in an email Wednesday.
Walmart is the largest private sector employer in the United States and employs approximately 16 lakh workers. Walmart has more than 1,00,000 managerial and professional employees among its total workforce. The lapses by the company were revealed in the Wall Street Journal. Walmart shares are down 9.8 percent this year.
Amazon also recently cut 1 lakh employees. After Walmart, other big companies are also preparing to take such steps. According to reports, Ford Motor is planning to lay off about 8,000 of its employees. Facebook’s parent company Meta Platform Inc., also plans to cut 30 percent of its workforce. In addition, Google has slowed down its hiring process.
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