Walmart joins layoff wave amid economic and global strains

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Walmart joins layoff wave amid economic and global strains

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As geopolitical uncertainty continues to rise and financial pressures mount, some companies are turning to one of the most common cost cutting measures that they have, layoffs. As if raising prices wasn’t enough, Walmart recently announcing that it’s planning to cut about 1500 jobs as part of a restructuring push to help simplify operations. The plan is set to impact teams and its global tech operations, e-commerce fulfillment, and its ad business as well, Walmart Connect. Meantime earlier today TD Bank saying it would lay off 2% of its workforce in an effort to scale up its digital and AI investments under its new CEO. Shares are moving to the upside off of that news. Also last week,

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announcing they would lay off 3% of employees across all levels affecting nearly 6,000 people. The hits impacting all sectors including the auto industry as well, Nissan intending to eliminate 15% of its jobs or about 10,000 people losing their jobs across the globe. All in all, the recent uncertainty in the markets and global trade wars sparking this run of layoffs impacting thousands around the world. Though we haven’t seen a rollover in labor market data just yet.

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