New Delhi, Jan 13: Walmart, the world’s largest retailer, has fired around 50 of its India executives as part of its restructuring in the country, three sources with direct knowledge said.
The move underscores the struggles Walmart has faced in expanding its wholesale business in India. The Bentonville, Arkansas based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers.
The firings mostly affected executives in the company’s real estate division because the growth in the wholesale model has not been that robust, two of the sources said.
“It’s happening because focus is shifting to e-commerce rather than physical (stores),” said one source, who declined to be identified as the decision is not public.
Walmart did not respond to a request for comment.
Walmart has placed bold bets on India’s e-commerce sector. In 2018, it paid $16 billion to acquire a majority stake in India’s online marketplace Flipkart, in its biggest global acquisition.
The second source added that while Walmart could slow down the pace of opening new wholesale stores, the focus will increasingly be on boosting sales through business-to-business and retail e-commerce.
Some of the executives were sacked last week and more could be let go on Monday, two sources said.
In a statement to India’s Economic Times newspaper, which first reported the news, Walmart said it was always looking for ways to operate more effectively and that “this requires us to review our corporate structure to ensure that we are organized in the right way to best meet the needs of our members.”
Walmart has around 600 staff in its India head office out of a total of around 5,300 nationally, one of the sources said.
Comments
Dear Shobha Karandlaje. This victim is a Beary. So kindly don’t include his name in your prolonged list of slain Hindu karyakarthas.
No anna the killers of RAO are BJP workers (minority sect) but BJP moved...this killer is a paid hitman,
Lesson for All Rowdy if we play with other life one day our life will end .. like tiz..
THAQDHEER BANA NE WALA KAM NAHEEN ! JIS KO KYA MILA WO MUQADDAR KI BAAT HAI
Cops wanted him dead.
That’s why he got bail.
Anyway this is a cleanup drive.
So many cases against him, really a big threat to the mangalore. Good Decision by police department :P
Inna Lillahi wa inna ilayhi raji'un,
Notorious rowdy died a dog’s death!
This may be the preplanned murder, big question is how he can get bail so soon.
No He was gang leader of Target Group.
Inna Lillahi wa inna ilayhi raji'un, how can he get bail so soon, need to question our Constituency?
out of contest! in mangalore no ending of murder?
Inna lillahi wa inna ilayhi raji'un, May allah grant him Jannah
Inna Lillahi wa inna ilayhi raji'un, dear brothers this s eye opener incident to all, pls leave peacefully.
is this same guy who killed Deepak Rao?
Youth dont understand the situation in mangalore. for every start thr will be a bad ending.
he recieved what he wanted.
Really sad but he was really a threat to the society.
Inna Lillahi wa inna ilayhi raji'un
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