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Walmart lays off hundreds of corporate workers amid restructuring plan

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Walmart has decided to lay off hundreds of workers in its corporate offices.

Video Transcript

- All right. Some breaking news now. Walmart reportedly cutting hundreds of corporate workers. The "Wall Street Journal" reporting it's part of a restructuring plan that affects its merchandising, global technology, and real estate teams. This comes a week after the retail giant cut its profit outlook, saying that rising prices are causing consumers to cut back on spending. The stock edging lower in after hours trading, down just about a half a percent.