The announcement of closures comes just a few months after CEO Doug McMillon

told investors that the coporate giant would try to find new ways to become "nimble" against global competitors. He also sited Amazon as being one of the stores largest rivals.

Of the 269 stores said to be closing, 100 of them will be in the US (reportedly none in Maine), and another large number of stores in Brazil. Walmart currently operates 4,500 stores in the US alone and employs more than 2.2 million people. Whoa.

According to the AP, the chain will now focus on US Supercenters, neighborhood markets and Sam's Club.