Walmart makes hundreds of executive job cuts
Walmart is cutting hundreds of corporate jobs in marketing, human resources, merchandising, real estate, logistics, and finance, all at its Bentonville, Arkansas headquarters, a spokesperson for the chain said.
The move is part of restructuring at the company, while between 400 and 500 jobs are being cut, other executives are being promoted.
“There is some restructuring and there is some streamlining; but, at the same time, we are giving some new opportunities to associates,” Walmart spokesperson Randy Hargrove said.
Hargrove would not say whether or not seafood executives would be affected by the cuts.
The cuts came soon after Walmart closed 63 Sam’s Club warehouse stores across the United States and reorganized purchasing for Sam’s Club – impacting some seafood suppliers.
At the same time, 360 executives are being promoted at Walmart’s corporate office, according o Hargrove.
“We are combining some layers to help us move at greater speed as we serve our customers," Hargrove said.
Additional executive job cuts — under 500 positions — will be eliminated in 2019, when buildings are consolidated to make way for the company’s new corporate headquarters, Bloomberg reported.
The restructuring is “about how we are transforming and changing as retail changes,” Hargrove said. “We are looking at how we can position the company best to operate more efficiently going forward.”
Most of the job cuts occurred on Thursday, 25 January. Walmart will continue to pay associates for up to 60 days as they look for new jobs and will also provide access to outplacement services, resumé help, interviewing skills training, and counseling through its employee assistance program, Hargrove said.
“If they have not found a job after 60 days, they will be offered a severance package as outlined in our severance policy, dictated by their position and length of service with the company,” Hargrove said. “Eligible associates will also receive their fiscal year-end incentive award.”