Wal-Mart Stores Inc. has laid off 450 employees at its Bentonville headquarters, the Associated Press reported on Friday.
The layoffs were across all areas in the company, from finance to global e-commerce, and represent the largest cuts at headquarters since 2009, according to the AP.
Walmart has not yet put out a press release, but CEO Doug McMillon wrote in a memo to employees on Friday: “Our customers are changing. Retail is changing and we must change … We need to become a more agile company that can easily adapt to shifting customer demand.”
CNN reported Friday that each worker will get 60 days of pay, with benefits, and also a severance package of two weeks’ pay for each year of employment. [ MORE ]