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Aug. 4, 2022, 7:09 PM +07 / Source: CNBC.com By Melissa Repko, CNBC Walmart has begun to lay off corporate employees, the Twitter I Survived The Hacking Shirt In opposition company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due to inflation. In a statement to CNBC, the retail giant described the layoffs as a way to “better position the company for a strong future.” Anne Hatfield, a Walmart spokesperson, declined to say how many workers will be affected and what divisions have experienced cuts. She said Walmart is still hiring in parts of its business that are growing, including supply chain, e-commerce, health and wellness and advertising sales. Despite losses, Walmart leads Fortune’s 2022 top-earning companies AUG. 3, 202202:40 “Shoppers are changing. Customers are changing,” she said. “We are doing some restructuring to make sure we’re aligned.” The corporate layoffs were first reported by The Wall Street Journal. Walmart is the largest employer in the country, with nearly 1.6 million workers in the U.S. The company, seen as a bellwether for the nation’s economy, spooked investors on July 25 when it cut its outlook for quarterly and full-year profit guidance. That warning had a chilling effect on the retail sector, dragging down the stocks of companies including Macy’s and Amazon and sending up a flare about the health of the American consumer. Walmart said at the time that as shoppers spent more on necessities such as groceries and fuel, they were skipping over high-margin merchandise including apparel. It said it would have to cut prices to sell more of those items, especially as a glut of inventory piled up in its stores and at those of competitors such as Target and Bed Bath & Beyond. Get the Morning Rundown Get a head start on the morning’s top stories. SIGN UP THIS SITE IS PROTECTED BY RECAPTCHA PRIVACY POLICY | TERMS OF SERVICE Later that same week, Best Buy cut its profit and sales forecast, saying it was seeing