Walmart Reportedly Slashes 200 Corporate Jobs After Falling Profit Warnings

Walmart, America's largest private employer, is laying off about 200 corporate workers, according to the Wall Street Journal.

Roles in departments across the company will be affected by the restructuring effort, according to the Journal.

Walmart confirmed to the Journal that additional roles would be created elsewhere and that roles were being cut as part of a restructuring.

PLAY Forbes Business Full Screen About Connatix Read More Read More Read More Read More Read More Read More 1/1 Skip Ad Continue watching after the ad Visit Advertiser websiteGO TO PAGE

Walmart shares plummeted last week after the company warned of falling profits. Walmart CEO Doug McMillon said that shoppers are avoiding spending in other parts of the stores because of the rising costs of necessities. Heavy discounts have hurt profitability. Walmart has 2.3 million employees around the world and over 1.5 million in the US.

As fears of a recession grow, Walmart would be the latest company to lay off workers. In April, the online broker laid off 9% of its employees, and on Tuesday it said it would be cutting 23% of its staff. According to The Information,Oracle began layoffs this week as part of a larger plan to cut thousands of jobs.

Walmart has laid off hundreds of corporate workers.

According to a report, Walmart is planning to lay off 200 staff.