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LEARN MOREPosted: 1:24 p.m. EST Jan 27, 2018
In mid-January, reports surfaced saying Walmart had plans to cut up to 1,000 corporate jobs. Now, it looks like the first round of layoffs has arrived.
The retail giant reportedly slashed between 400 and 500 jobs at its headquarters this week. Marketing, human resources and finance are just some of the departments hit.
Walmart's primary motivation for tightening its belt is competition from Amazon, which is arguably on track for world domination.
Walmart's job cuts come as Sam's Club, which Walmart owns, announced it's closing dozens of stores nationwide.
The cuts also come after Walmart announced it's handing out bonuses and upping its minimum wage, which the company says comes thanks to the GOP tax overhaul.
The next round of corporate layoffs will reportedly come in 2019.
