Retail bellwether Walmart plans to cut about 1,500 jobs as part of a restructuring plan to lower expenses, The Wall Street Journal reported, citing a person familiar with the matter.

The company's plan will impact teams in its global technology operations, e-commerce fulfillment in U.S. stores, and its advertising business Walmart Connect, the Wednesday report said.

Walmart is the largest U.S. private employer with about 1.6 million employees. It employed about 2.1 million employees worldwide in total, according to its website.

It is also the country's biggest importer with about 60% of its imports, mainly items such as clothing, electronics and toys, from China.

The company said last week it would raise prices for some products by the end of May as President Donald Trump's trade war hits its supply chain.