Wal-Mart Is Preparing To Cut 500 Corporate Jobs

Walmart Layoffs

Wal-Mart is said to be preparing a round of layoffs that could be announced as early as Friday.

According to the rumor, the layoffs will affect hundreds of employees at its Bentonville, Arkansas, headquarters.

A company snoop says human resources has reserved most of the meeting rooms at the company’s headquarters, as well as small rooms typically reserved for supplier pitches.

The snoop says some department directors were also told to cancel travel this week and to make sure they were in the office on Friday.

Nearly 18,600 people work in Bentonville and the report claims around 500 workers will be handed a pink slip.

Rumors of potential layoffs have been a hot topic for months in the northwest Arkansas community.

Wal-Mart recently cut its earnings outlook and its second-quarter net income fell 15% from the previous year.

In August Wal-Mart CEO Doug McMillon said that “for the back half of the year, we will manage these items closely with a continued commitment to efficiency, cutting costs where appropriate, even in a period of investment.”

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.