Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Walmart Inc. is set to lay off some of its corporate employees, and this will affect around 200 people. The announcement comes not long after the company issued a profit warning by lowering its earnings forecast.
Walmart slashed its profit outlook for the second quarter as well as the full year due to the unrelenting inflation surge, which is taking its toll on the company. It expects its earnings per share for the second quarter to sink to about eight or nine percent and fall to the 11% to 13% range for the fiscal year 2023.
The American retail giant confirmed in a statement that it is currently overhauling its structure and advancing some roles to secure the company’s future. Walmart also mentioned that it will still be adding new jobs in some key areas in the business, including the supply chain, e-commerce, and advertising.
"We are updating our structure and evolving select roles to provide clarity and better position the company for a strong future," Walmart’s spokesperson, Anne Hatfield, told FOX Business.
She added, "At the same time, we are further investing in key areas like e-commerce, technology, health & wellness, supply chain and advertising sales, and creating new roles to support our growing number of services for our customers, suppliers and the business community."
Hatfield declined to say the exact number of corporate employees who will be affected and which business units are involved in the cuts. She affirmed that they will still hire people for other divisions that are growing.
In any case, it was reported that the termination of corporate employees already started this week, and this was confirmed on Wednesday, Aug. 3. The company said it was forced to do this to cut costs because of the inflation.
In a separate statement to CNBC, Walmart’s spokeswoman explained that they are restructuring as the shoppers are changing. She said that the move is to make sure that the company is adjusting to the changes.
Meanwhile, despite the latest job cuts, Walmart is still the largest employer in the United States country. It has employed almost 1.6 million people in the country.
