Clorox, Whole Foods announce layoff plans

The Yahoo Finance Live team reports on announcements by Clorox and Whole Foods to layoff employees. Clorox said it will eliminate 200 roles and Whole Foods said it will cut several hundred corporate roles.

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BRAD SMITH: Guys, more layoffs are bleeding into corporate America. Clorox announced its second round of job cuts as it looks to trim costs and adapt to changing consumer preferences. And Whole Foods is reportedly cutting several hundred corporate roles, according to the Wall Street Journal.

The grocery chain, which is owned by Amazon, will now operate across six regions instead of nine. No stores or facilities will be affected by this. Clorox and Whole Foods join a list of companies from tech firms to retail giants who have been cutting costs in the face of recessionary fears.