The retail giant had previously announced plans to cut 1,500 staff in response to changing economic conditions.
Walmart, Inc. (WMT) is eliminating more roles, this time in the store support and a unit that coaches store employees and managers, according to a Bloomberg News report on Wednesday.
The report, which cited an internal memo from Cedric Clark, executive vice president of store operations at Walmart U.S., stated that hundreds of store-support roles are being eliminated as part of an effort to simplify the company's organizational structure.
"We're simplifying our market support structure, reducing touchpoints and friction for our store associates," Clark said in the memo, according to the report. Walmart is America's largest private employer, with approximately 1.6 million staff members.
Although Walmart has posted steady growth in recent years, it now faces additional headwinds from U.S. tariffs, which are driving up inflation and business costs while pressuring consumer demand.
In May, Walmart announced plans to raise product prices in its stores, citing economic pressures. The plans prompted similar moves from other retail companies.
The latest cuts are likely part of an ongoing restructuring effort at Walmart. In recent months, the company has announced plans to cut approximately 1,500 jobs, affecting teams in technology, operations, marketing, and fulfillment. It is also closing a warehouse for its Sam's Club unit and relocating some staff to another facility.
The latest job cuts affect Walmart's market coordinators, who assist market managers, who oversee store managers, as well as coaches and coordinators at Walmart Academy.
On Stocktwits, the retail sentiment shifted to 'bearish' as of early Thursday, from 'neutral a day prior. WMT shares are up 5.3% year-to-date, compared to the 6.5% rise in SPDR S&P 500 ETF (SPY), the ETF tracking S&P 500 stocks.
Separately, on Wednesday, Walmart’s Mexico and Central America unit reported a 10% drop in quarterly profit and an 8% rise in revenue. The profit drop was wider than what analysts had expected, according to Reuters.
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