Walmart Layoffs 2024: What to Know About the Latest WMT Job Cuts


  • Walmart (WMT) has announced plans to lay off hundreds of workers.
  • The company is eliminating a lot of corporate jobs and relocating others.
  • This news isn’t helping WMT stock, which has been down all day.
Walmart layoffs - Walmart Layoffs 2024: What to Know About the Latest WMT Job Cuts

Source: Jonathan Weiss /

The United States’ largest private sector employer is about to get smaller. Walmart (NYSE:WMT) stock is down today following news that massive job cuts are coming.

The big box retailer has announced that it will be slashing hundreds of jobs, mostly on its corporate side. The Walmart layoffs aren’t the only part of this restructuring endeavor, though. On top of that, the company is asking its remote workers to return to the office for most of the work week. For some, this involves relocating to cities with Walmart corporate hubs.

Layoffs don’t always negatively impact share prices, but in this case, the market is not reacting well to Walmart’s news.

What to Know About the Walmart Layoffs

The exact number of corporate employees whose jobs will be eliminated hasn’t been released yet. And while “hundreds” of job cuts could still be a small percentage for an employer as big as Walmart, investors should be careful to see the big picture when it comes to these layoffs. WMT stock plunged as trading began today and hasn’t rebounded, demonstrating that the market isn’t reacting well to the news.

This isn’t surprising, given Walmart’s clear motive to restructure. That said, the company seems to be either laying off its staff members or asking a lot of them. As the Wall Street Journal reports:

“[Workers] in small offices in Dallas, Atlanta and Toronto are being asked to move to other central hubs like Walmart’s corporate headquarters in Bentonville, Ark., as well as Hoboken, N.J., or Northern California, said one of the people familiar with the matter. Walmart will still allow staff to work remotely part of the time, as long as they are in offices the majority of the time.”

Part of the problems WMT stock is facing today could be due to general market volatility. But even so, it has been a difficult trading month, with shares barely remaining in the green. A few weeks ago, news of a massive ground beef recall posed problems for the company and other retailers. Now, news of the Walmart layoffs is clearly casting doubt on the company’s growth products. While shares will likely recover in the long run, this clearly isn’t an instance of job cuts benefitting a stock.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.

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