Walmart Inc. (NYSE:WMT) announced plans to cut ~1,500 corporate jobs as part of a restructuring effort aimed at increasing efficiency, speeding up decision-making, and simplifying its organizational structure.

U.S. retail bellwether Walmart is planning to cut about 1,500 jobs as part of a restructuring push to simplify its operations, according to a memo seen by Reuters.

Walmart ( WMT) is laying off workers as part of a U.S. restructuring the retailing giant said was designed to "sharpen our focus" in order to "accelerate our progress delivering the experiences that will define the future of retail." The Wall Street Journal reported that 1,500 U.S. corporate positions would be eliminated.