Walmart is cutting or relocating hundreds of corporate roles to restructure its global technology and product divisions.
An internal memo requires many affected employees to move to the company’s Bentonville, Arkansas headquarters or Northern California offices.
The restructuring follows a period of heavy investment in automation and artificial intelligence.
Walmart stated the changes aim to align teams with overlapping projects rather than replacing workers with AI.
This move by the VDC ETF’s top holding signals a focus on operational optimization and cost control.