US retail titan Walmart will wield the axe on 450 jobs at its headquarters in Arkansas as it restructures its management team.  

US retail titan Walmart is wielding the axe on 450 jobs at its headquarters in Arkansas as it restructures its management team.

The cuts were revealed in an internal memo circulated to staff today, which was seen by Reuters.

Walmart boss Doug McMillon said the changes were designed to make the retailer a “more nimble organisation”.

The job cuts form part of a review that will lead to “pulling back in some areas and investing in others”, McMillon wrote in the memo.

Asda’s parent company, Walmart employs 1.3 million workers in the US, including just under 19,000 at its headquarters.

The news came after it cut profit forecast in August, but it reported a 1.5% increase in like-for-like sales in the US during its second quarter.

Walmart’s biggest US rival, Target, axed 1,700 jobs at its Minneapolis HQ earlier this year, while Whole Foods Market revealed earlier this week that it will cut 1,500 jobs within the next two months, representing a 1.6% reduction in its workforce.