Walmart Announces Layoffs, of Corporate Employees.<br />The layoffs by the retail giant were first reported by 'The Wall Street Journal' on Aug. 3.<br />Nearly 200 corporate Walmart employees will be affected.<br />A Walmart spokesperson confirmed the layoffs in a statement.<br />[Walmart is] updating our structure and evolving select roles to provide clarity and better position the company for a <br />strong future, Walmart Spokesperson, via CNN.<br />The spokesperson also stated the restructuring would lead to the creation of new roles.<br />The announcement comes days after Walmart warned that its quarterly and fiscal year profits would likely decline. .<br />Such a warning is rare for Walmart.<br />The retail giant has begun marking down prices of clothes and other items due to <br />an increase in merchandise. .<br />While the American job market remains strong.<br />... consumer behavior has shifted in recent months, in step with the shifting pandemic and rising inflation.<br />Walmart is only one of several retailers that have reported declining sales.<br />Both Target and Best Buy have either issued <br />profit warnings or slashed sales and profit goals. .<br />Both Target and Best Buy have either issued <br />profit warnings or slashed sales and profit goals. .<br />Walmart's corporate headquarters are located in Bentonville, AR.<br />The company is the largest private employer in the U.S. employing close to 1.6 million people
