Walmart, the largest U.S. retailer by sales, is shutting down a major part of its operations in several states amid a recession and a slowing economy, the retailer announced Friday.

Walmart, the nation’s largest retailer by volume, is closing the U.K. and Canada, as well as its U.A.E. operations in the United States, Canada and Australia.

The retailer is also closing some European markets, and its Australian and U.N. operations are also being shuttered.

The retailer announced it is eliminating about 4,300 jobs in the U