Walmart (Bentonville, Ark.) is reportedly in the process of cutting about 20 percent of its leadership staff above the store-management level as a way to quickly cut expenses before finishing out fiscal 2017.
By the beginning of October, the company will eliminate 300 executive jobs by winnowing its regional markets down to 350 from 450. It also is reducing its number of divisions down to four from six and is cutting its amount of regions down to 40 from 50.
According to Retail Touch Points, the cuts are an effort to save the company from having to pay out bonus money and vested equity before Q1 2018.
The company may also be cutting as many as half of its new Fresh Operations Managers, positions which were implemented within the last six months to train store associates regarding the value and benefits of fresh produce.