Walmart to announce layoffs; Dunkin’ Donuts closing 100 stores

The retail behemoth is battling falling revenue by cutting back its workforce, while the food chain is losing its Speedway locations.

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On Friday, Walmart is expected to announce layoffs for hundreds of its employees at its headquarters in Bentonville, Arkansas, according to The Wall Street Journal.

The Journal reported that HR employees have reserved several meeting rooms for Friday, and the company’s department directors were told to cancel travel plans in order to be in the office.

The move could affect up to 500 of its 19,000 employees working at the retail chain’s corporate office.

Walmart has not yet commented on the reports, but International Business Times reported that the company’s CEO, Doug McMillion, recently said Walmart has been “cutting costs where appropriate, even in a period of investment.”

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