TEXAS, USA — Walmart will lay off more than 2,000 warehouse workers across four states, including Texas, according to a filing with the Department of Labor.
The cuts are happening at warehouses in Texas, Pennsylvania, Florida, and New Jersey. According to CNN, about half of the layoffs will come from Texas.
Walmart recently told investors to expect slower sales and profit growth in the year ahead. Walmart's core shoppers of people with lower incomes continue to be hit with inflation, which could impact sales.
The retail giant also said it would raise its average minimum wage from $12 to $14 an hour, which could squeeze profit margins even more. In January, CEO John Furner said the pay raises would be reflected starting March 2.
The competition for low-wage retail workers remains fierce even as companies scale back on hiring, amid a lingering labor shortage. Walmart and its competitors have raised wages several times in recent years and added benefits to retain workers, including covering in vitro fertilization, fertility testing and financial help with surrogacy and adoption.
The newest pay raises bring Walmart, the country's largest retailer and biggest private employer, closer to many of its competitors, including Target and Amazon, that have raised their minimum wage to $15 an hour.