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Retail giant Walmart (NYSE:WMT) plans to lay off hundreds of corporate jobs and is asking most remote workers to move to offices, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.
In addition, workers in small offices in Dallas, Atlanta and Toronto are being asked to move to other central hubs like Walmart’s (WMT) corporate headquarters in Bentonville, Ark., as well as Hoboken, N.J., or Northern California, the report said.
The retailer (WMT) will still allow staff to work remotely part of the time, as long as they are in offices the majority of the time.
Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings.
The company has been trying to reduce its workforce over the past year and had said in April last year that it expects about 65% of its stores to be serviced by automation by the end of its fiscal year 2026.
Walmart (WMT) will report earnings on May 16 before the market opens. Analysts anticipate the retail giant to report revenue of $158.0B, adjusted EBITDA of $9.56B, operating profit of $6.56B, and EPS of $0.52.
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