Walmart (WMT) stock was flat today after reports that it was cutting hundreds of jobs at its stores.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
A Bloomberg report said the jobs on the block were in store-support roles, namely market coordinators who support site managers.
Marketing Moves
According to a memo seen by Bloomberg, these coordinators are considered to be corporate positions, assisting market managers, who are responsible for supervising roughly a dozen store managers each.
The company is also said to be cutting some coach and coordinator roles at Walmart Academy, which trains store employees and managers.
However, market coordinators and academy coaches will be guaranteed store-level coach roles in their local area.
The move would come only a couple of months after the retail giant announced plans to cut about 1,500 jobs.
The roles being targeted included teams in global technology operations, e-commerce fulfillment in U.S. stores and its advertising business Walmart Connect.
Retail Pressure
That move was part of Walmart’s effort to cut expenses and make faster decisions across the company. At the same time, the retailer said it planned to open some new roles, indicating that this was not a broad downsizing, but a more targeted shift aimed at boosting efficiency and focusing on key priorities.
It’s not just Walmart, with rivals such as Amazon (AMZN) and Macy’s (M) also recently announcing job cuts. This results from changing customer habits and global supply chain challenges.
Economic pressures, largely stemming from President Trump’s tariff policies, have also forced Walmart, known for value, to hike prices.
Despite these pressures, however, Walmart continues to perform well against its peers.
