Walmart Stores, Inc. has laid off 450 workers at its headquarters as the world's largest retailer attempts to become more nimble to compete with the likes of Amazon.com.
There are more than 18,000 people who work at the headquarters Bentonville, Arkansas. The cuts were across all areas, from finance to global e-commerce. The company says that the employees were spoken to individually early on Friday.
The announcement follows months of rumors about headquarters cuts and arrived a month and a half after Walmart trimmed its annual earnings outlook as profits fell.