Walmart Inc is cutting hundreds of corporate roles in a restructuring effort, the Wall Street Journal reported on August 3, citing people familiar with the matter.

Around 200 jobs are being cut, the WSJ said, adding that the retailer notified employees in its Bentonville, Arkansas headquarters and other corporate offices of its restructuring move. 

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Several companies, including Tesla Inc, Netflix Inc, and Coinbase Global Inc have also been cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, inflation and an energy crisis in Europe.