Walmart has been laying off since February 2009 when they laid off 800 at HO. They've been ramping up the cuts in more recent times since the layoff in October 2015, where they cut 450. Since then it has been pretty steady laying off, with several large groups let go at a time in 2017.
They've cut stores and clubs in the past too. For those who don't believe it, Google the cuts over the years.
Be ready, have a plan, and by all means don't drink the kool-aid.