Apparently, all is not well at retail giant Walmart, which plans to eliminate 700 to 800 positions at company headquarters in Bentonville, Ark. The cuts won’t impact store operations like Walmart’s garden centers, the company says. The cuts are, however, the first sign of trouble for Walmart in a struggling economy.
“As the new fiscal year begins, we find ourselves living in unprecedented times,” Walmart CEO Mike Duke wrote in a memo to employees.
The particular positions being eliminated are in merchandising, real estate, marketing and support divisions in Walmart’s U.S. division and in Sam’s Club merchandising unit, according to the memo.