Walmart to cut 1,500 jobs to lower expenses, WSJ reports

News Snapshot:

Retail bellwether Walmart plans to cut about 1,500 jobs as part of a restructuring plan to lower expenses, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter. The company’s plan will impact teams in its global technology operations, e-commerce fulfilment in U.S. stores, and its advertising business Walmart Connect, the report said. Walmart is the largest U.S. private employer with about 1.6 million employees. It employed about 2.1 million employees worldwide in total, according to its website. It is also the country’s biggest importer with about 60% of its imports, mainly items such as clothing,...