Food - News
The Real Reason Walmart Just Laid Off Hundreds Of Employees
By AMBERLY MCKEE
Job security is a very crucial requirement that every employee must have, as it helps reduce stress and anxiety, makes employees feel valued, and improves productivity. Sadly, hundreds of Walmart employees recently lost their employment security following an announcement that the company has been laying off employees.
The news that Walmart is laying off about 200 employees comes a week after the company estimated less profit for the year, claiming that inflation has curbed the average American's spending power. A Walmart spokesperson told CNBC that the layoffs will “better position the company for a strong future,” although the chain is still hiring for other positions.
Walmart claims that the chain is likely to see a 13% decrease in 2022 profits, as fewer customers are purchasing items like clothing because of a tighter budget. “The increasing levels of food and fuel inflation are affecting how customers spend, [...] apparel in Walmart U.S. is requiring more markdown dollars,” Walmart CEO Doug McMillon said.