Aug 3 (Reuters) - Walmart Inc is cutting hundreds of corporate roles in a restructuring effort, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Around 200 jobs are being cut, the WSJ said, adding that the retailer notified employees in its Bentonville, Arkansas headquarters and other corporate offices of its restructuring move. (https://on.wsj.com/3JrppOz)Several companies, including Tesla Inc, Netflix Inc , and Coinbase Global Inc have also been cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, inflation and an energy crisis in Europe. The company is also investing and creating jobs in eCommerce, technology, health & wellness sectors, she said. The U.S. retailer last week slashed its profit forecast on account for surging prices for food and fuel, citing that it needed price cuts to pare inventories.

Source: Wall Street Journal August 04, 2022 06:32 UTC