Walmart Said To Be Laying Off 1,500 US Staff After Plan To Bump Product Prices

Walmart (WMT) is cutting as many as 1,500 corporate jobs in the United States to lower expenses and speed up decision-making, the Wall Street Journal and Reuters reported late Wednesday, citing an internal memo and company confirmation.

The cuts come just days after Walmart said it would raise the prices of products in its supermarkets owing to higher tariff costs.

The move drew ire from President Donald Trump, who said Walmart should make a stronger effort to absorb the costs.

Walmart has laid off about 4,000 employees in the last two years, according to the company and government data from Worker Adjustment and Retraining Notification (WARN).

The publications quoted a Walmart spokesperson as saying that the latest layoffs “reflect a focus on business priorities and our growth strategy and are not related to tariffs."

Walmart is the largest non-government employer in the U.S., with about 1.6 million employees. It employs about 2.1 million workers worldwide, according to its website.

It is also a significant importer from China.

On Stocktwits, the retail sentiment for the company dropped to 'neutral' from 'bullish.'

A user said Walmart's push to expand its retail operations "could turn things around."

Walmart shares are up 6.7% this year.

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