Wal-Mart is reportedly looking to trim spending by cutting hundreds of headquarter positions.
Reuters reports that those close to the matter stated that fewer than 500 employees are expected to lose their jobs. Currently, there are more than 18,000 people employed at Wal-Mart’s headquarters. Due to this news not having yet been made public, Reuters' source requested to remain anonymous.
Local publication The City Wire has speculated about job cuts in recent weeks, according to the report, including a recent followup in which Vice President of Corporate Communications for Wal-Mart, Greg Hitt, said, “For any company of our size and scope it’s a natural course for us to review our management structure from time to time as we work toward better efficiencies and getting closer to our customers.”
Hitt did not comment on any scheduled cuts, nor did the retail chain comment on the situation to Reuters. There have also been an influx of Wal-Mart employee resumes to recruiting firms, according to the report, indicating some internal concern from employees.
Chief Executive Doug McMillon, as well as other top executives with the company, have an annual meeting scheduled later this month to discuss the current strategy with investors and analysts alike, so stay tuned.