Walmart to cut or relocate 1,000 jobs in efforts to compete with Amazon

Walmart plans to cut or relocate roughly 1,000 jobs as the organization seeks to consolidate more of its global-technology and product teams, the Wall Street Journal reported, citing a person familiar with the situation. 

The move impacts corporate workers, who have been asked to relocate to Walmart’s Bentonville, Arkansas, or Northern California offices. 

RELATED: Amazon cuts 16,000 jobs across company in latest round of layoffs

Reuters reported that Walmart became the first retailer to amass $1 trillion in market value in February and has been enhancing a digital strategy to compete with Amazon, Costco, and Aldi.

According to the Wall Street Journal, Walmart is investing more in technology, automation, and AI efforts, while working to continue bolstering its profits. 

Walmart has also pushed to maximize its profits besides the sales of goods through new businesses like advertising and by lowering expenses, the Wall Street Journal noted, referencing Walmart executives during its earnings presentation earlier this year. 

Walmart corporate staff restructuring

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The Wall Street Journal reported that Walmart has continued to trim some corporate employees as it combines units and requested staff members to relocate to its corporate hubs, primarily at its Bentonville, Arkansas headquarters.

RELATED: Walmart laying off hundreds of employees, relocating many remote workers

Walmart also planned 100 layoffs at its corporate offices in Hoboken, New Jersey offices earlier this year, the Wall Street Journal noted, citing a layoff notice filed by Walmart in New Jersey.