Wal-Mart Stores Inc. has revealed the layoffs of 450 workers at its headquarters in a bid to lower costs and better compete in a crowded retail landscape, according to published reports. The job cuts affected all areas of the company, including finance and e-commerce.
"Our customers are changing. Retail is changing and we must change," Walmart CEO Doug McMillon noted in a memo to employees. "We need to become a more agile company that can easily adapt to shifting customer demand."
An earlier round of layoffs at the mega-retailer's headquarters took place in 2010, when it terminated 300 workers, but this latest purge marks the largest cuts since 2009, when the Bentonville, Ark.-based company laid off 800 HQ employees.
About 19,000 associates work at Walmart’s headquarters.
Recently, the company has been focusing on the amenities it offers customers, expanding its free grocery pickup service to additional markets.