Walmart Announces Corporate Layoffs

By Sheridan Fifer

As Walmart attempts to merge its online and store businesses, an unknown number of corporate jobs are getting the axe. According to Bloomberg, the layoffs number in the hundreds, but Walmart refused to give an exact number, saying it would release more details after associates were notified. The layoffs come at a time when Walmart's sales and labor costs are both rising, due in part to the impact of the coronavirus. 

The layoffs were first reported by Bloomberg. Citing people familiar with the matter, the report said Walmart has laid off hundreds of corporate employees across store planning, logistics and real estate units.

Read the full story at CNBC.